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Norman:
Do you know what a fraud is? A fraud is someone who sees a big move
overnight in soybeans and posts a market call to buy them after the move
without mentioning the overnight trading. Then the fraud claims credit for
the big move on the opening that mostly really happened the night before when
everyone was asleep. A fraud never mentions the fact that soybeans were up
22 cents overnight one a/c/e electronic trading before the pit trading ever
began. A fraud is someone who does not know that soybeans has a 50 cent
limit (<A
HREF="http://www.cbot.com/cbot/www/prod_detail/0,1499,14+58+138+16,00.html";>
Soybean Contract Specs</A>). Twenty-four cents is what percentage of 50
cents? Gapped 24 cents? Not if you look at the combined pit and a/c/e
chart.
My point was not about the market call. As far as I can see from your posts
you never even got into a trade. All I see is a guy who said buy beans after
they were already sharply higher in the overnight session. I am not sure if
that is not more pathetic or just misleading, jokingly or not. And I don't
see the humor in it either way.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it! John J.
Lothian is the President of the Electronic Trading Division of The Price
Futures Group, Inc., an Introducing Broker.
In a message dated 7/17/01 3:10:49 PM Central Daylight Time,
nwinski@xxxxxxxxxxxxxxx writes:
<< RT,
Well, it looks like John L was right. I shouldn't have suggested that
Soybeans may be a good investment. Apparently so many saw my post and tried
to buy on the opening, that Nov. Soybeans gapped up about 24 cents (75% of
the daily limit) Unfortunately for all of those kids and widows who bought
the opening, the market spent the rest of the day gonig down to only close +
14 1/2 cents. It looks like Junior will have to defer that cap and gown in
favor of flipping hamburgers at McDonalds. Widow Jones will have to cut her
cable service so no more Lawrence Welk or Antique Road Show. I apologize for
any financial damage or devastation my post may have caused.
Apologetically,
Norman >>
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