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John, or anyone else.
Do you think that the world needs a product such as the X-Funds?
Do you really think it will fly?
Who needs this other than the pit brokers who need the commissions. Once
the X-Fund moves against the buyer you'll see a lot of scrambling to
hedge the position, not with one contract but possibly as many as
four(or whatever number in the fund). Great boon for the brokers. It's
enough that one needs to contend with the uncertainty of one futures
contract, now you have to do it times four. Only 2 weeks to expiration,
it smacks of pure gambling. Someone once said that derivatives are
nothing more that bets on bets, who needs this?
If you buy X-Funds you are bound to use offsetting futures positions if
it goes against you. When I trade futures I NEVER hedge with options or
anything else. If I'm wrong than I get out. Can't do that with xfunds.
Did you say these funds will have the tendency to go up? How, why? Just
because they were picked by *professionals*. I am a professional and I
have no idea where the market is going in the next 5 minutes. And I
still make money just trading *naked* futures contracts.
This is Peter Steidlmeyer second try at haibrained ideas. Anyone use
market profile? Anyone make profits CONSISTENTLY using it?
He is a nice guy (met him) but...........
I would return the tie :)
Peace and happy trades.
Laci
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