Futures (Cedar Falls, IA) articles from May 2005

Futures (Cedar Falls, IA) archives from May 2005

Commodities and the man.(EDITOR'S NOTE)(Editorial)
May 1, 2005... No doubt you command the attention of a five-star general--at least on Wall Street--when your first major success is starting the Quantum Fund with George Soros, and then "retire" at age 37. Thus began the wild ride, figuratively and literally,...

Mini minis?(Sound Off!)
May 1, 2005... Has CME/Globex thought about reducing the minimum price increment for the S & P 500 and Nasdaq 100 E-minis? It seems that reducing the increment from $12.50 to $5.00 (S & P) and from $10.00 to $5.00 (Nasdaq) would increase volume and improve...

Overseas reading.(Sound Off!)(Letter to the Editor)
May 1, 2005... Futures magazine is amongst one of the best publications in the world that I have come across which touches on the latest trends and news on futures and options. As it is pretty difficult, if not impossible, to get a copy of your magazine...

Pandora's box? CFTC wants to tweak rules.(Trendlines)
May 1, 2005... The nature of Congress makes opening up the Commodity Futures Modernization Act (CFMA) to changes a danger as it addresses the reauthorization of the Commodity Futures Trading Commission (CFTC) this year. While the exchanges, the CFTC and...

OneChicago to take on partners.(Trendlines)(Brief Article)
May 1, 2005... When Chicago's three largest derivatives exchanges created OneChicago it shocked many long-time observers of the markets who thought they'd never see Chicago's exchanges work cooperatively. Now with a spike in volume providing a glimmer of hope...

Crude awakening: changes afoot at Nymex.(Trendlines)
May 1, 2005... With seats selling for $1.9 million, oil setting volume records, new offices opening in Japan and Singapore and 41 new ClearPort contracts this year, members of The New York Mercantile Exchange Inc. (Nymex), the world's largest energy...

Keeping up: how to trade on current events.(Trendlines)(Philadelphia Board of Trade )(Brief Article)
May 1, 2005... Event-driven contracts using binary options are challenging the CFTC to define its regulatory roll. Binary options have a fixed value, usually from 0-100 and have finate risk. The Philadelphia Board of Trade (PBOT) announced plans in March...

New transparency: CME's fx prices go super.(Trendlines)(Brief Article)
May 1, 2005... An agreement between the CME and SuperDerivatives (SD), whose SD-FX forex option pricing system is widely used to price foreign exchange options, could create a more transparent and liquid currency options market. CME market prices for its...

Sungard sold.(International News)(Brief Article)
May 1, 2005... A consortium of seven private investment firms has agreed to pay approximately $11.3 billion to acquire financial software powerhouse SunGard Systems Inc. The deal is the second-largest leveraged buyout on record. SunGard creates a...

CFTC pressing ahead on forex.(International News)(Commodity Futures Trading Commission, foreign exchange)(Brief Article)
May 1, 2005... As the CFTC clarifies its authority over retail forex, it's still combating forex fraud. The U.S. District Court for the Middle District of Tennessee issued an order of preliminary injunction against Foreign Fund, an Internet entity that...

Refco to go public.(International News)(Brief Article)
May 1, 2005... Refco Inc. filed an S1 with the Securities and Exchange Commission on April 8. It could raise $575 million from the sale of common stock.

China into forex.(International News)(Brief Article)
May 1, 2005... May marks the month China will start trading more foreign exchange pairs on a new market called the China Foreign Exchange System (CFETS), which is made up of nine market makers including seven foreign banks. CFETS is a subsidiary of the...

DB buyback.(International News)(Brief Article)
May 1, 2005... Duetsche Borse in April announced plans to repurchase up to 10% of its share capital, or 11, 180,288 shares. The buyback is limited to the share equivalent of retained earnings of [euro]448 million ($575.65 million) as of Dec. 31 2004. The...

33 years of Futures ...(Trendlines)(Brief Article)
May 1, 2005... Futures has thrived for more than three decades by providing unbiased tips, news, profiles, advice and current market analysis. Here, we spotlight some events Futures has covered during its 33 years. This flashback includes some articles from...

CFTC to up spec limits.(Managed Money Review)(Commodity Futures Trading Commission, speculative trading limits)
May 1, 2005... The Commodity Futures Trading Commission (CFTC) in March proposed an increase in speculative trading limits for Chicago Board of Trade agricultural contracts as well as wheat contracts at the Kansas City Board of Trade and Minneapolis Grain...

Correction.(Correction Notice)
May 1, 2005... In the April issue's Public Funds Summary we incorrectly reported returns for Triad Trading Fund LP. Triad's year-to-date return (through February) was 11.64% and its February return was 6.66%. Futures regrets the error.

Joseph Murphy elected chairman of FIA.(Trading Places)(Futures Industry Association)(Brief Article)
May 1, 2005... The Futures Industry Association's board of directors elected Joseph Murphy, president of Refco LLC, to the position of chairman. He will replace Mike Dawley, who will continue to serve on the board and the FIA executive committee. "I'm...

10-Year Notes stuck?(Hot Commodities)(Brief Article)
May 1, 2005... Provided there is no negative economic shock to the market, 10-Year Notes will be stuck in a tight three to four handle band for the next quarter between 107-00 to 108-00 and 111-00 to 112-00, says John Welsh, senior V.P. at PFG Inc. ...

High commodity prices hurt spooz.(Hot Commodities)(Brief Article)
May 1, 2005... A generally positive unemployment report in February helped push e-mini S & Ps to 1234.25, the yearly high, before breaking 50 points and settling into a range between 1180 and 1190, which coincides with the 50- and 20-day moving averages. ...

Lumber logrolls into black hole.(Hot Commodities)(Brief Article)
May 1, 2005... The strong housing market, combined with production and transportation issues, has driven the price of lumber contracts up $200 per 1,000 board feet from November 2002 until March 14, 2005. The move was a continuation of the bull market that...

Beans sprouting slowly.(Hot Commodities)(Brief Article)
May 1, 2005... For the short term, Bob Adduci, commercial grain broker for R.J. O'Brien, pegs initial support for May soybeans at $5.95-$5.96 per bu. "The next support level would be at $5.73--that's a retracement level on the whole rally. But it looks like...

Will the U.S. dollar move higher?(Market Strategy)
May 1, 2005... Even if you do not trade currencies or own a U.S. manufacturing company that exports goods overseas, you have probably heard a great deal recently about the continued weakening of the U.S. dollar. Newspaper stories concerning the three and a...

Boarding the precious metals flight? Dollar weakness, rising crude oil prices and record deficits fueled gold's ascent to $448 in early March. Many analysts predict that precious metals will to continue to climb throughout the year. But others caution: rising interest rates could dull metals shine.(MARKETS)
May 1, 2005... Gold often is referred to as the "yellow metal." But is Wall Street using the wrong color in the description? Would the "green metal" or "greenback metal" better depict the precious metal's character? Read any forecast for gold and most likely...

Tech talk: gold traders take cues from crude and the dollar.(MARKETS)
May 1, 2005... January was a tough month for gold bulls as the dollar retraced its long intact downtrend, but after coming into the year on a weak note, gold was able to find its legs around mid-February. On Feb. 10, though, the situation changed dramatically...

How to gage your forex I.Q.(Forex Trader)
May 1, 2005... The popularity of forex trading is attracting more people around the world. As forex becomes more popular, many firms are offering systems and signals to trade forex. These firms appeal to the tendency in all of us to avoid making difficult...

ADX: the key to market trends; Most of the battle in trading is knowing which timing tools to use and when. The ADX is a powerful indicator that can tell you when and how you should trade a particular market.(EQUITY TRADING TECHNIQUES)(Average Directional Movement Index)
May 1, 2005... All technical analysts know that classical technical patterns often fail. Textbook patterns often are ideal cases that seldom work in real life. As a result of these imperfect patterns, traders either book profits too quickly or too late, while...

The price is right ... sometimes: the CPI report can move the markets, but probably not exactly how you expect. Here's unique insight into this key economic report.(TRADING TECHNIQUES)
May 1, 2005... If the Consumer Price Index (CPI) or its cousin the Producer Price Index (PPI) did not exist, would we need to invent them? This is something of a trick question. If this were 60 years ago, the answer would have been no, because neither index...

How to trade collapse in volatility: traders need volatility to catch market moves, but when market volatility collapses, don't go to lunch. Take profits and prepare for the next move, something big might be on the horizon.(TRADING TECHNIQUES)
May 1, 2005... Market behavior can be predictable to a certain degree. However, nobody can predict exactly what a specific market will do at a precise time. The true professionals in our business will tell you that market analysis is not a business of bold...

Popping the housing bubble myth and how to trade it: the strong housing market has kept many consumers buying in recent years. But there's fear that if the housing market goes bust, so will consumer spending, and hence the economy. The evidence, alas, doesn't support this bleak scenario.(TRADING TECHNIQUES)
May 1, 2005... One way to trade successfully is to know when to fade what's considered common knowledge. Take, for example, the currently in-vogue notion that there is a speculative bubble in the price of housing. While home prices are somewhat elevated, the...

U.S. dollar: cyclical strengths vs. structural weaknesses; Traders often learn that interest rate yield differentials rule when it comes to currency valuations, but this isn't always the case. Here are other factors to consider.(TRADING TECHNIQUES)(United States)
May 1, 2005... In explaining his three-year old short dollar position, billionaire investor Warren Buffett told shareholders earlier this year, "There are deep-rooted structural problems that will cause America to continue to run a huge current-account...

Breakouts for beginners: consolidating markets give traders an opportunity to enter low risk high return trades. The ability to spot breakouts enables traders to enter a trend near its beginning and catch a greater portion of the move.(FUTURES 101)
May 1, 2005... It is very difficult to predict market peaks and valleys, and even more difficult to make money in a market that is trading within a narrow range because you can neither buy low nor sell high. However, a market that has been trading sideways...

Trading with a newsletter.(Online Trading)
May 1, 2005... While many trading Web sites focus on giving trade recommendations, the Marlin Letter prefers to give information to traders based on levels, combining a newsletter and Web trading room where those levels are examined every day. For Jack...

Finding the right niche: the size of the commodity trading advisor universe is constantly expanding in terms of money under management, number of managers and styles. Specialty managers are attracting interest from institutional investors wishing to round out their portfolio.(MANAGED MONEY)
May 1, 2005... For years the term managed futures was synonymous with a systematic long-term trend following approach. While the recent impressive swell in money under management has to a large extent been concentrated in managers who fit that definition, it...

2005 public funds returns (through March).(Funds Review)
May 1, 2005... 2005 public funds returns (through March) Date Name of fund Trading advisor(s) started U.S. Closed Alternative Asset Growth LP ...

TradeSmart 2.0.(Software Review)
May 1, 2005... TradeSmart 2.0 TradingScreen Inc. 5 Union Square West, 4th Floor New York, NY 10003 Phone: (212) 375-9013 Support: (212) 375-1025 E-mail: support@tradingscreen.com Web: www.tradingscreen.com OVERALL RATING:...

Hot commodities will get hotter; Jim Rogers, wildly successful hedge fund manager, college professor, investment biker, world traveler and eclectic economic commentator is adding a new title: the world's biggest promoter of physical commodities.(trade trends)(Interview)(Cover Story)
May 1, 2005... Jim Rogers' initial fame came as co-founder, along with George Soros, of the Quantum Fund, which earned more than 4,000% in its first decade, a period when the S & P 500 returned less than 50%. Rogers retired at age 37 but continued to invest...

Contract dates.(Dateline)(Calendar)
May 1, 2005... 2 FND: Nybot Apr Ethanol F, Orange juice F, Sugar #11 F, LND: Nybot Apr Ethanol F, Sugar #11 F, LTD: BM & F Alcohol OF, CME Apr Weather F, OF. [TABLE OMITTED] 3 FND: BM & F Alcohol F. 5 LTD: Safex Bonds F. 6 LTD: CME Butter...

Events coming up.(Calendar)
May 1, 2005... Call the numbers listed for more information. For other seminars, see the classifieds on pages 76-81. Futures and Options Seminar. MAY 4-5. 9:00 a.m.-5:00 p.m. CFTC, New York, www.cftc.gov. (202) 418-5000. Market Technicians...

Ascendia making liquid profits.(commodity trading advisor Ascendia Capital Management)
May 1, 2005... While CTAs are rare in Japan. especially successful ones, Masahito Kanamaru, president and principal of Chicago-based CTA Ascendia Capital Management, has looked for and created success in the United States. "Several good CTAs have emerged...