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RealTraders,
My enthusiasm for the new e-mini was considerably deflated when I found out
there is not going to be a mechanism to allow stop orders. It is going to
trade on the Globex system and unfortunately, traders trading less than a
30 lot (ie., 99% of the public, who the contract was supposed to
accomodate) do not have access to the pit and stop orders. So I guess the
exchange wants us to just throw an order or two out there and sit back and
keep our fingers crossed. That's what I call really bringing it to the
public... right up the you know what!! I guess the exchange thinks we'll
find solace watching real time quotes provided by the exchange as our
positons move against us multiple handles at a time in a matter seconds.
How thoughtful.
I suggest calling the merc (800-331-3332) and asking how they expect this
thing to be reasonably traded under the currently planned system. Don't
hesitate to point out the CBOT is introducing their Dow contract a month
after the e-mini, and it is going to trade open outcry and presumably one
will be able to use stops. I'll check on that and post what I find out.
Regards,
Tom Alexander
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> From: Wayne Moody <wlm95@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: FUTR- S&P Mini
> Date: Friday, August 15, 1997 12:14 AM
>
> CME has an ad for this contract on Pg. 101 of the Sept TASC. It looks
> like some good thought and planning has gone into this product, doesn't
> it? Electronic small-order execution, free real-time prices with bid,
> ask, and size? That really brings it to the public.
>
> The ad offers a free CME Equity Trading Kit: a 16 page "Winning Stock
> Index Strategies", and a CD-Rom with price data and charting software
> for their most active equity index products. It says to call
>
> 1-888-252-6464
>
> or E-Mail
>
> investor@xxxxxxx
>
> Wayne Moody
> wlm95@xxxxxxxxxx
>
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