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This issue is NOT about knowing the proceedures, but how the proceedures
themselves function, Lee. I am sure this is of little importance to us all
in practice, but it caught my attention that the price change between the
close and the settlement was a meer 7.8 handles. It raised my suspicions
enough to ask the question. From now on, will I be afraid to ask a
question because you might tell me I have bad osmosis? I doubt it. Is
there some conspiracy here? I doubt it. However, just because a person is
paranoid, it doesn't mean they are not out to get you!
dr
----- Original Message -----
From: <LScharpen@xxxxxxx>
To: <rosewood@xxxxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Monday, April 02, 2001 5:53 PM
Subject: Re: [RT] Early close for stock index futures
In a message dated 4/2/01 3:39:43 PM Pacific Daylight Time,
rosewood@xxxxxxxxxxxx writes:
<< Sean:
The fact that it is well-announced has nothing to do with the question of
fainess for the small speculator nor does it reassure me of the intentions
of the exchange.
dr >>
==========================
Although I'm 6'3", I believe I fall into the category of 'small speculator'
you mention. I sit here and watch my screen, don't bother 'nobody' and
nobody bothers me. Even so, the issue at hand (a 'special' time of "close"
or "settlement" at month/quarter end) has somehow 'osmosed' through MY walls
into my pores ... over and over and .... again .... since it first started.
But even if it hadn't, I'm scratching my head trying to figure out how it
might 'hurt' me ... or why it's somehow 'unfair' to me ... or how it says
anything about the "intentions of the exchange" ... positive or negative ...
if my 'walls' were thicker and I hadn't known about it Maybe a 'market on
close' order resting there? I never use one of 'those' so maybe that's why
I
don't 'see it'.
Lee Scharpen
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