Wednesday, June 9
Awful tone from the get-go so the short side was the place to be. Many of these red Unusual Suspects offered good spots to get short. EOD Watch List:
Posted at 21:29, GMT
Now for the Daily E-mini Lesson from Professor Dinky Scalp:
E-mini S&P futures, 5-min. Chart
Posted at 15:52, GMT
To celebrate Cole Porter's birthday, the Chairman recommends these two albums: Ella Fitzgerald Sings The Cole Porter Songbook (1956) and Anita O'Day Swings Cole Porter with Billy May (1959).
Posted at 11:57, GMT
Never Bet Against the House!
CME, Daily Chart
Posted at 11:10, GMT
Bits from the Chicago Mercantile Exchange's 10-Q that interested me:
"Trading volume for the three months ended March 31, 2004 totaled 182.7 million contracts, representing an average daily trading
volume of 2.9 million contracts. This was a 24.8% increase over the 146.4 million contracts traded during the same period in 2003
that represented an average daily trading volume of 2.4 million contracts. Average daily volume for the month of March 2004 was
3.1 million contracts per day, the highest average daily volume in any month in CME history."
"... GLOBEX volume represented 49.6% of total trading volume, or nearly 1.5 million contracts per day..."
"The increase in electronic trading volume was primarily the result of interest rate and foreign currency trading volume growth."
"We currently have nearly 65 clearing firms. For the three months ended March 31, 2004, one firm, with a significant portion of customer revenue, represented approximately 11% of our net revenues. Should a clearing firm withdraw from the exchange, we believe the customer portion of that firm’s trading activity would likely transfer to another clearing firm of the exchange. Therefore, we do not believe we are exposed to significant risk from the loss of revenues received from any particular clearing firm." [It's nice to be The House, Part I]
"Quotation data fees [totaled] $15.5 million for the three months ended March 31, 2004. The increase resulted primarily from the change to our fee structure that was implemented on January 1, 2004. At that time, we modified our market data pricing to a flat fee structure. Users of the professional service are now charged $30 per month for each market data screen or device." [It's nice to be The House, Part II]
"For the three months ended March 31, 2004, the two largest resellers of our market data represented nearly 50% of our quotation data fees revenue. Should one of these vendors no longer subscribe to our market data, we believe the majority of that firm's customers would likely subscribe to our market data through another reseller. Therefore, we do not believe we are exposed to significant risk from the loss of revenue received from any particular market data reseller." [It's nice to be The House, Part III]
"We had 1,238 employees at March 31, 2004." [Nearly as many as the Chicago Parks Commission (this is an inside joke).]
"... GLOBEX volume represented 49.6% of total trading volume, or nearly 1.5 million contracts per day..."
"The increase in electronic trading volume was primarily the result of interest rate and foreign currency trading volume growth."
"We currently have nearly 65 clearing firms. For the three months ended March 31, 2004, one firm, with a significant portion of customer revenue, represented approximately 11% of our net revenues. Should a clearing firm withdraw from the exchange, we believe the customer portion of that firm’s trading activity would likely transfer to another clearing firm of the exchange. Therefore, we do not believe we are exposed to significant risk from the loss of revenues received from any particular clearing firm." [It's nice to be The House, Part I]
"Quotation data fees [totaled] $15.5 million for the three months ended March 31, 2004. The increase resulted primarily from the change to our fee structure that was implemented on January 1, 2004. At that time, we modified our market data pricing to a flat fee structure. Users of the professional service are now charged $30 per month for each market data screen or device." [It's nice to be The House, Part II]
"For the three months ended March 31, 2004, the two largest resellers of our market data represented nearly 50% of our quotation data fees revenue. Should one of these vendors no longer subscribe to our market data, we believe the majority of that firm's customers would likely subscribe to our market data through another reseller. Therefore, we do not believe we are exposed to significant risk from the loss of revenue received from any particular market data reseller." [It's nice to be The House, Part III]
"We had 1,238 employees at March 31, 2004." [Nearly as many as the Chicago Parks Commission (this is an inside joke).]
Posted at 9:38, GMT
The S&P is up about 40 points since the recent sentiment-based timing entry. Buy fear, sell hope.
S&P 500 Index with Sentiment Indicators, Weekly Chart
Posted at 8:52, GMT
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