|
PureBytes Links
Trading Reference Links
|
ariel@xxxxxxxx wrote:
>
> It's amazing the reaction to some of these government reports. Take the
> release of the PPI this morning at 8:30 A.M. It came in at over twice
> what was forecast. The knee-jerk-inflation jitters reaction was
> immediate. Check out the SPZ7 Globex ticks starting at 8:30 A. M. this
> morning. It was over in 90 seconds or so. Tradestation's News Monitor
> had it on at 8:32. Way too late to take advantage of the situation. Is
> this info transmitted electronically? Or is there a government official
> walking into a room somewhere filled with people with their fingers on
> the speedial of their cell-phones? Bloomberg terminal maybe? Anyone know
> what's needed to get instantaneous info on government reports?
> Thanxs Harry
This is the "advantage" of being on the floor. They delay of 90 sec
does sound a little long, but in a crazy market after a number it can
often take that long for the pit reporters to get clarification on what
prices are trading in the pit. Trades are being made, but it is so loud
and crazy that traders are just waving their hands to the quote reporter
that "30" has traded (for example). But the quote reporters don't know
what the handle is on the 30 so they can't punch the trade and they
can't exactly say "excuse me sir what was that price again" since the
traders are on to the next trades. So there is a delay until they know
the correct price to put out. A bad handle (991.30 vs 992.30) put out
that has to be deleted causes alot of problems so they delay until it is
right.
As an off the floor trader, I think you should realize that you will be
unable to react to these figures after the fact.
As for the actual procedures, the major news services have the numbers
pre-release. Sometimes as much as 20 minutes early and are instructed
what time they can be released. Then they are monitored by the gov't.
So if you are on a real time Reuters for example, you will see it
immediately and at the same time as the floor traders.
Eric
|