Futures (Cedar Falls, IA) articles from March 2002

Futures (Cedar Falls, IA) archives from March 2002

Enron's axis of evil. (Editor's Note).(Brief Article)(Editorial)
March 1, 2002... A confession: I've become an Enron junkie. I read everything from The New York Times to Business Week, to Newsweek to The Wall Street Journal, and pretty much everything in between. I watch -- when the West Wing or Law & Order isn't on -- Larry...

Sound Off!(Brief Article)
March 1, 2002... Misplaced pride? Joseph Graham's pride in being part of the trading staff of Enron is admirable and possibly deserved (see "Don't Blame the Traders," Sound Off! Futures, February 2002). However, in one of the many investigations of the...

Correction.(Correction Notice)
March 1, 2002... In the Top 50 brokers story (Futures, December 2001) BNP Paribas Commodity Futures Inc. should have been identified as offering online futures trading and managed funds. All BNP entities listed fall under the umbrella of BNP Paribas Bank, which...

Rogue trader hits Irish bank. (Join the Club).(John Rusnak rings up losses at Allfirst)(Brief Article)
March 1, 2002... Although he hasn't achieved losses of Nick Leeson or Yasuo Hamanaka proportions, John Rusnak apparently has come close. Rusnak is the Baltimore-based currency trader for Allfirst, the U.S. subsidiary of Ireland's largest bank, Allied Irish...

Enron units sold off. (Piece by Piece).(Sempra Energy Trading acquires Enron Metals Ltd., UBS Warburg buys wholesale gas and electricity arm)(Brief Article)
March 1, 2002... Not all of Enron has gone up in smoke. One highly sought unit is the trading division, at least part of which appears to be going to UBS Warburg, which has made an agreement for the wholesale gas and electricity arm. Though no cash is...

Software firm to shake-up? (Hold onto Your Seats).(Patsystems rumors)(Brief Article)
March 1, 2002... In the rest of the world, rumors usually develop and move faster than actual events. It's no different in the futures industry, as evidenced by recent events at the trading software firm patsystems. Buzz of a shareholder's letter demanding...

New futures tax in Bush budget. (Feed Me, Feed Me!).(Brief Article)
March 1, 2002... Like its predecessors, the Bush administration is pushing a new tax on futures trading. The user fee" as it's called, would be tacked onto each round turn futures and options trade, with proceeds earmarked for use by the Commodity Futures...

Refco fined. (I'll Take that Trade).(Refco Overseas)(Brief Article)
March 1, 2002... Just one month after London's Financial Services Authority (FSA] assumed its new role as Britain's overall regulator for all things financial (futures, securities, insurance, etc.), it whacked London-based Refco Overseas with a [pounds...

London execs fight back. (Turmoil in the U.K.?).(London Stock Exchange, London International Financial Futures and Options Exchange executives)(Brief Article)
March 1, 2002... Don't worry, London. The city is still King! That's the message the London International Financial Futures & Options Exchange (Life) Chairman Brian Williamson and London Stock Exchange (LSE) Chief Executive Clara Furse gave to Parliament's...

Clearing monopoly afoot? (German Snub).(Brief Article)
March 1, 2002... At least two of Deutsche Borse's largest clearing members have taken some of their clearing business to Euronext's clearinghouse of choice, Euroclear, to protest Deutsche Borse's acquisition of international securities settlement house...

CME joins race. (Swaps Anyone?).(plans to start trading two-, five-and 10-year swap futures contracts)(Brief Article)
March 1, 2002... Competition for exchange-traded swaps business is heating up with the CME designing new two-, five-and 10-year swap futures contracts it plans to start trading in March. The CME joins Life and the CBOT in offering a swap product. The move is...

Someone call 911. (Europe).(Porsche does not meet standards for financial reporting)(Brief Article)
March 1, 2002... German carmaker Porsche says its financial results are built for simplicity and accuracy but not for speed. Deutsche Borse agrees, but it still won't reinsert the company into its MDax index. The reason: Porsche is sticking to the German...

Wish granted. (Europe).(London Metal Exchange to start trading new aluminum contract)(Brief Article)
March 1, 2002... On March 4, the London Metals Exchange (LME) will begin trading a special aluminum contract requested by North American car manufacturers. The carmakers requested the contract on the special alloy used in production as an alternative to the...

Evolving interests. (Europe).(Swedish security dealer expresses interest in London Stock Exchange)(Brief Article)
March 1, 2002... Sweden's OM AB is looking increasingly more like a technology company than the exchange it started out as, but that could change. At the company's annual press conference in January, CEO Per Larsson reiterated his affection for the London Stock...

All clear! (Pacific Rim).(Japan securities providers to form common clearinghouse)(Brief Article)
March 1, 2002... As part of the continuing trend to clearinghouse consolidation, six equities market providers have agreed to form a single clearing organization in Japan. The boards of each have approved the plan, which estimates the centralized clearing...

Memo to China. (Pacific Rim).(U.S. and China regulatory agencies sign agreement)(Brief Article)
March 1, 2002... The Commodity Futures Trading Commission (CFTC) and the China Securities Regulatory Commission have signed a memorandum of understanding (MOU) to work in cooperation on futures and options markets monitoring, investigation and regulation. The...

The blame game. (Americas).(will electric utilities honor Enron contracts?)(Brief Article)
March 1, 2002... It's no secret that Enron persuaded local energy providers in California and Washington, D.C., to hedge their electricity needs by buying long-term contracts. Now, the prices have crashed, but those providers are locked into long-term...

New president heads John W. Henry & Co. (Trading Places).(Brief Article)
March 1, 2002... Though he didn't have to make a physical change of office, Mark Rzepczynski's new position means big changes to his responsibilities. He has taken the role of president and chief investment officer at John W. Henry & Co. Previously, he headed...

Integrity, fresh approach keys to more money. (Managed Money Review).(Managed Funds Association)
March 1, 2002... Understandably, one of the most popular lectures at a conference for money managers is how to attract more money to manage. February's Managed Funds Association (MFA) conference in Miami was no exception. Asset allocators Edward A....

Chartview: X-Funds get out of the gates.(trading underway in Chicago Board of Trade's X-Funds)(Brief Article)
March 1, 2002... Trading in the Chicago Board of Trade's (CBOT) much talked about X-Funds got modestly underway of Feb. 1 with the exchanges first two offerings. The X-Funds are individual vehicles that represent spread positions in up to four domestic futures...

Gold. (Hot Commodities).(Brief Article)
March 1, 2002... Golden bull Accounting irregularities at Tyco and the Global Crossing bankruptcy suggesting "Enronitis" may hurt more companies. These, along with uncertainty in fixed income and a growing problem in the Japanese banking industry, have pushed...

S&P 500. (Hot Commodities).
March 1, 2002... Volatility rising With the Enron scandal behind increased scrutiny of large firm's accounting practices and a downturn in corporate earnings, traders see continued weakness in the S&P 500. Despite the overall bearish sentiment, the market...

Wheat. (Hot Commodities).(Brief Article)
March 1, 2002... Winter wheat Enthusiasm over Egyptian purchases of wheat early in January has faded as March wheat tested December lows of $2.77 per bu. in February. "Wheat ran up to its highs and failed to get follow-through business," says Shawn...

The end of the easing cycle? (Market Watch).(Brief Article)
March 1, 2002... A historic credit easing cycle appears to have ended. You can imagine scenarios that would send the recession into extra innings and necessitate further Federal Reserve rate cuts, but it looks like the Fed's 11 rate cuts last year will...

Elusive recovery keeps stock indexes on hold. (Markets).(Statistical Data Included)
March 1, 2002... From go-go to so-so years, it's been a rough transition for U.S. stock indexes. Although history indicates a third straight down year is unlikely, it also suggests gains could be limited for several years to come. Much will depend on the timing...

The Dow: Jurassic era index or modern barometer? (Market Strategy).(Brief Article)
March 1, 2002... The equity markets of today bear little resemblance to the markets of only 50 years ago when hi-tech was air conditioning in an automobile. The advances of the past half decade have introduced investors to a new array of products and even...

Bonds light the way for equities. (Equity Trading Techniques).
March 1, 2002... Hindsight is 20/20, and a review of recent history shows what went wrong in the stock market redux of the past couple years. This provides powerful clues into how various indicators, particularly the bond market, can provide a better compass to...

The four pillars of profitable trading. (Trading Techniques).
March 1, 2002... The key to success in trading isn't having a sure-fire trading system because no such thing exists. Only by being honest about your abilities, getting experience in the markets, carefully preparing your analysis approach and effectively...

Planning for trading success. (Trading Techniques).
March 1, 2002... There's no guaranteed path to profitable trading, but the odds are in your favor with an honest assessment of the markets, methods and time frames you use to trade. Here's a straight-forward way to approach this using basic technical analysis...

Doing your homework on individual equity futures. (Trading Techniques).(Statistical Data Included)
March 1, 2002... Exchange and regulatory developments are revealing more about the makeup of individual equity futures. While we wait for the parties involved to get the contracts off the ground, here's a fundamental primer on these products from a trader's...

Why futures when there are options? (Trading Techniques).(Brief Article)
March 1, 2002... One exchange that won't be joining the grand global experiment known as individual equity futures is Germany's Eurex. Chief Executive Officer Rudolf Ferscha says there's just no demand. "Hedgers can already protect themselves with stock...

The elegance of open interest. (Trading Techniques).
March 1, 2002... Knowing the level of activity in a given market when the price rises or falls can be a powerful indicator to future action. Open interest figures offer just such information. The key to success is devising a specific set of guidelines for...

PolyDimensional charts and MetaTrend analysis. (Technology & Trading).
March 1, 2002... Sometimes it seems there can be nothing new in analysis. However, here are two tools that provide a different look at price patterns and may provide a trading edge. Termed PolyDimensional charts and MetaTrends, we'll detail the steps for...

TradingSolutions V2.0. (Software Review).(financial analysis software)(Evaluation)
March 1, 2002... Overall rating: Complexity level: Intermediate to advanced. Price: TradingSolutions: $995; TradingSolutions Suite: $3,995 (includes three additional neural network development tools); optional integrated link to ProphetFinance data:...

Part of this complete brokerage. (Online Trading).(online services for equity options dealers)(Brief Article)
March 1, 2002... Equity options traders are out there looking for the best online firm to answer all their trading needs. Security brokers are adding equity option trading to their already robust online trading systems. So why aren't these two groups...

Independent vs. managed trading. (Futures 101).
March 1, 2002... As the most basic decision once you've decided to trade, self-directed trading and managed accounts each have their own benefits and drawbacks. Managed accounts isn't just going along for the ride, and independent trading is more than just...

Top traders of 2001. (Cover Story: Managed Money).(Statistical Data Included)
March 1, 2002... Despite 11 rate cuts driving fixed-income Longs and Sept. 11 catching most trend-followers on the right side of the market, trading advisors as a whole eked out only small profits in 2001. Here are a few who did significantly better and the...

Did Enron write its own rules? (Trade Trends).(anti-fraud exemptions for over-the-counter energy futures contracts)
March 1, 2002... Much mud has been slung toward both former CFTC Commissioner Wendy Gramm and her husband and Senator Phil Gramm for the regulatory exemptions that purportedly allowed Enron to wreak havoc on itself, its stockholders, its employees and the OTC...

Bollinger on Bollinger bands. (Book Review).
March 1, 2002... By John Bollinger McGraw-Hill, New York (2001) 227 pp., $40 "Two roads diverged in a yellow wood, I shall be telling this with a sign And sorry I could not travel both... Somewhere ages and ages hence: I took the...

Sierra Margin. (Software).(Brief Article)(Product Announcement)
March 1, 2002... Sierra Margin, an add-on program from FNX Ltd. (www.fnx.com), works with the Sierra Systems suite of products to offer real-time margin monitoring for options traders. Color-coded screens notify traders and risk managers of margin call or...

Track 'n Trade Pro. (Software).(Brief Article)(Product Announcement)
March 1, 2002... Gecko Software Inc. is upgrading and changing names to Track 'n Trade Pro version 3.0. The charting software, designed for both beginners and experts, now includes annotation tools, pattern highlighting, faster data downloading, improved...

Online seminars. (Education).(professional trading)(Brief Article)
March 1, 2002... In a series of online seminars sponsored by Frontier Capital Group and TradePro, trading professionals will lead courses and discussions around such topics as Options 101, Trading in Trying Times, SortWizard, Elliot Wave Theory and Options and...

Train to Trade. (Education).(Brief Article)
March 1, 2002... The Futures Academy Division of Ira Epstein & Co. Futures (www.iraepstein.com) has released its Train to Trade course. The package includes an introductory binder textbook for beginners to the futures market, a CD-Rom where Epstein teaches his...

Seminars on individual equity futures. (Education).(Brief Article)
March 1, 2002... Fox investments is hosting a series of retail and institutional seminars on individual equity futures. Courses will be held in Florida, California, Illinois, Texas and New York between March and May. Speakers include Market Wizard Mark Cook,...

Neuer Markt Sentiment Index. (Service).(Brief Article)
March 1, 2002... Deutsche Borse has launched the Neuer Markt Sentiment Index, its first sentiment index of 300 market participants. The index covers futures market trends and equity indexes. Published every Friday online at www.deutscheboerse.com, the tool is...

www.innerworth.com. (Internet).(web site focuses on psychology of trading)(Brief Article)
March 1, 2002... Innerworth (www.innerworth.com) helps traders keep up on the psychology of trading. The site hosts tips and analysis of your personality through interviews with master traders, trading methods, interactive chats and a personality inventory....

www.futuresindustry.org. (Internet).(Brief Article)
March 1, 2002... The Futures Industry Association has redesigned its Web site to update its navigation and reflect the change in name of the partner Institute for Financial Markets. The new location, at www.futuresindustry.org, includes much of the same...

www.esignal.com. (Internet).(Brief Article)(Product Announcement)
March 1, 2002... The newest version of eSignal (www.esignal.com), 6.3, includes Internet-based real-time streaming European price quotes. Aimed mainly at European users, the streaming data also help U.S.-based traders monitor trading overseas before U.S....

Scott Ramsey: Discretionary edge. (Trader Profile).(Denali Asset Management president)(Brief Article)
March 1, 2002... Denali Asset Management President Scott Ramsey isn't sure whether he could quantify his discretionary trading methods into a systematic model, but he knows he will never try. It is precisely the daily chess match with the markets that he finds...