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> From: Jim Johnson [mailto:jejohn@xxxxxxxxx]
> Sent: Monday, July 26, 1999 1:10 PM
> To: omega-list@xxxxxxxxxx
> Subject: Squawk Box services
>
> Can anyone suggest live pit audio services? Also, has anyone an opinion
> on whether they help or hinder SP daytrading?
Jim:
I find these services a distraction. I have pit brokers that
take care of me and so they will put on a headset and quote
me all day into my own dedicated line/squawk box directly in
the pit. I never have them quote for any length of time. If
I am trying to 'massage' a fill, then I will have them quote
while I try to get my business done.
But I have a good intuition for the markets I am trading
that comes from watching charts update tick by tick and
doing my hand drawn charts. If you don't have a good feel
for the markets, it may help you. To me, the squawk is just
extra noise. In fact, there are times when I think it may be
negative for me--the noise level makes me consider trades I
wouldn't even bother with if the noise wasn't there.
Best,
Tim Morge
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