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In a message dated 06/24/2000 5:16:09 AM Pacific Daylight Time,
eadamy@xxxxxxxxxx writes:
> Prime,
> recent example is Cocoa. I know it's possible to hedge this kind of risk
> but that costs premium and the guys selling premium are the same guys
> running the market up and down. This is reason I avoid illiquid markets
> and NY pits.
I bought cocoa this week when it went down, on a limit order. Sold it when
it went up, on a limit order. Bought it again when it went back down. I'd
like to see it keep going up, of course, since I'm long more than one
contract, the rest from higher prices, but this sort of
manipulation/oscillation is bread on the table, as Bill likes to say.
Larry
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