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I would second this. I use it all the time and find it very useful.
Philip
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> From: Jim Gavey <jimgavey@xxxxxxxxxxxxx>
> To: RealTraders Mailing List <realtraders@xxxxxxxxxxxxxx>; Omega Mailing
List <omega-list@xxxxxxxxxx>
> Subject: Trading from the Merc S&P pit
> Date: 06 October 1998 19:25
>
> I've been trading the big S&P front contract since late 1994 but have
never
> visited the Mercantile exchange where actual trading takes place. I use
> TradeStation with a BMI satellite feed. Earlier this year I subscribed
to
> Listen Only Squawk. This is a streaming internet service that verbally
> reports the current bid & ask directly from an order desk close to the
pit.
> They also offer comments on support and resistance and what the big
houses
> and locals are doing and their size.
>
> I spent last Friday with the founder of Listen Only Squawk standing next
to
> him as he read the hand signals in the pit and relayed them through his
> internet service to his subscribers. Great experience. I'm now
listening
> to him as I write this note. I really feel like I'm in the pit. It's
hard
> to describe the benefits of this service but I'll try:
>
> Being there. As I said I feel like I'm actually in the pit.
>
> An edge as to what is or is about to happen. The background noise level
> clearly indicates good trading opportunities. When it rises
significantly
> it usually means the market is taking off.
>
> Confirmation that my data feed is working properly and a backup in case
it
> goes down. The bid ask is a little earlier than my satellite price feed
but
> generally not by much.
>
> Useful information about who's doing what, what the bid and ask size is
and
> how full the pit is.
>
> A new feature in beta testing is the ability to ask questions real time
> like in a chat program and if appropriate get an immediate response.
>
> This group also executes trades for selected customers and has a hedge
fund.
> The Listen Only Squawk internet service is inexpensive and they have a
free
> trial. I highly recommend it. By the way their service includes the
Dow
> and bond pit futures also. You press a button to switch between the
> markets.
>
> Anyone interested in checking them out can visit their web site at
> www.los.net and/or call or e-mail Joe Perrone at 312-930-1231 /
> jperrone@xxxxxxx
>
> I have no interest in Listen Only Squawk other than being a satisfied
> customer.
>
> Have a great day. Jim Gavey
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