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Jim:
History is longer than the time the most recent contract has
been traded. If you wish to chart and look at 'history,' you
eventually have to make some assumptions. You can either
choose to look at the 'end to end' continuous
series--meaning you look at actual prices from the front
month contract until that contract is in delivery and then
switch to actual prices of the 'new' fron contract--or you
can choose a 'variation' of this: continuous contracts that
have a mathmatical method of combining contracts. Both
approaches are not 'real,' in that the contract did not
trade from the beginning of time until now.
Trading, like life, is all about choices.
Best,
Tim Morge [just a brown paper bag chartist]
Jim wrote:
>
> Why would anyone want to construct a perpetual contract? The real
> world isn't like nor is there anything like a perpetual contract
> (except, of course, a chart, of say, the S&P cash or the Dow 30).
>
> This isn't meant to be a smartass question...but I always note folks
> start talking about perpetual contracts at rollover time, and I can't
> figure out why or how a chart like this could have any importance.
>
> Jim
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