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As I have oft said. Volatility is the traders life blood. Ira
Scaletrade@xxxxxxx wrote:
> 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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