Futures (Cedar Falls, IA) articles from September 2008

Futures (Cedar Falls, IA) archives from September 2008

Dollar pumping.(EDITOR'S NOTE)
September 1, 2008... Last January on a flight to Los Angeles I sat next to a young man from Australia. He and his fellow basketball team members were in the United States for some exhibition games. I believe he was returning home to college, but at the time he was...

Spec bills rejected.(SHOT DOWN)
September 1, 2008... After a cruel summer for speculators, Congress rejected two bills that would have limited speculation in the commodity markets before it left for August recess. On July 25, the Stop Excessive Energy Speculation Act of 2008 failed to receive the...

CME sweetens deal.(HAVING ITS CAKE ...)
September 1, 2008... By the time you read this New York Mercantile Exchange and CME Group members will have voted on their merger agreement and chances of approval are greater due to revisions to the agreement announced on July 18. CME Group and Nymex Holdings...

SEC restricts naked shorts.(SHORTS STOP)
September 1, 2008... As a result of what it called "a substantial threat of sudden and excessive fluctuations of securities prices and disruption of the functioning of the securities markets,'" the Securities and Exchange Commission (SEC) introduced an emergency...

Optiver price manipulation.(CFTC CRACKDOWN)
September 1, 2008... In the midst of accusations from some in Congress that it has not been diligently monitoring energy markets, the CFTC on July 24 filed a case against Netherlands-based Optiver Holding BV, two of its subsidiaries and three employees. The...

FXLQ funds freed.(HAPPY ENDING)
September 1, 2008... Since December, customers of Forex Liquidity LLC (FXLQ) had been unable to trade or access their accounts, but a deal between the broker's receiver, Robb Evans & Associates LLC, and Global Forex Trading (GFT) returned 100% of the customer funds...

BBA Nixes LIBOR reform.(International News)
September 1, 2008... The British Bankers' Association (BBA) has rejected calls for adding another dollar rate to the calculations of the London Interbank Offered Rate (LIBOR) and other reforms that would make the process for establishing LIBOR rates more...

SOC Gen aftermath.(International News)
September 1, 2008... The Jerome Kerviel story just won't die. He's the "rogue" trader who cost Societe Generable SA 4.9 billion euros ($7.6 billion) late last year and early this year. In early August, one of his lawyers told the French press that Kerviel's bosses...

OSE, ISE end MOA.(International News)
September 1, 2008... An agreement that would have led to a joint options venture between Osaka Securities Exchange (OSE) and International Securities Exchange (ISE) was terminated Aug. 1. ISE said in a release that due to market conditions in Japan, OSE has chosen...

CME group in Dubai.(International News)
September 1, 2008... The Dubai Financial Services Authority (DFSA) has granted CME Group the status of a recognized body within the Dubai International Financial Centre (DIFC) for all CBOT products. The approval allows DIFC's market participants to apply to CME...

Grant sentenced.(International News)
September 1, 2008... Former Refco president and owner Tone Grant was sentenced in August to 10 years in prison for his role in the fraud that destroyed the brokerage firm just two months after its initial public offering. Grant is expected to appeal the sentence....

Savignac is COO at Newedge Americas.(Trading Places)
September 1, 2008... Jean-Luc Savignac was named COO of Newedge's Americas Zone. He most recently served as project leader overseeing the integration of Calyon Financial and Fimat, which merged to form Newedge. 'We have many different projects going on [designed...

Short-term benchmark.(Managed Money Review)
September 1, 2008... We have noted the growing demand for short-term managed futures programs in this issue's Managed Money feature and Trader Profile and now both short-term programs and allocators looking for the best short-term managers have a benchmark to...

Not just another commodity bill.(My Position)
September 1, 2008... As everyone appears to be introducing bills on market speculation, I should as well and here it is:110th CONGRESS 2d Session S.-- To amend the Commodity Exchange Act just for the hell of it. IN THE SENATE OF THE UNITED STATES ...

Housing market hits copper.(Hot Commodities)
September 1, 2008... Copper is a barometer of the world economy, and tellingly it has fallen to $3.41 per lb. in mid-August from $4.05 in July. "As we see copper prices fall, we consider that there will a global slowdown economically," says Mike Gehrman, senior...

OJ: Tanked.(Hot Commodities)
September 1, 2008... Having just crushed the juice and shut down in July, orange juice tanks are full and frozen concentrate orange juice futures have declined to $0.98 per lb. in August from $1.38 in January. "It's as cheap as it has been in years," says Jack...

Nasdaq leading sector.(Hot Commodities)
September 1, 2008... The E-mini Nasdaq 100 has outperformed other equity indexes during this summer's volatile trade. A primary reason for its resiliency is that smaller companies, of which it has many, are simply more agile and globally competitive and that global...

Options Strategy.
September 1, 2008... Question: You have a clear idea of the upcoming range in a market, but not the direction. What do you do? Answer: An intrinsic condor call spread With growing demand and carryout supplies getting smaller, there is little room for a...

After the fall: Nat gas near bottom.(Market Strategy)
September 1, 2008... Midsummer 2008 witnessed a precipitous decline in the price of natural gas that had many wondering if prices ever moved anywhere other than down. But the pace and scope of the sell-off has had the same effect on the market as a natural forest...

U.S. Dollar: Misery finds company: while many analysts predict a recovery in the U.S. dollar, that expectation appears based more on a disbelief in how far the greenback has fallen than on fundamentals. But other currencies are now showing the same signs of stress and a change could be close.(MARKETS)
September 1, 2008... The Federal Reserve Bank cut 325 basis points from the Fed funds rate from September 2007 through April of this year in an effort to stimulate our flagging economy and to shore up the banking industry in the face of sub prime related fallout....

Tech talk: bottom dollar?
September 1, 2008... When it comes to gauging the strength of the U.S. dollar, one of the things we often focus on is the performance of the USD Index (DX). The DX is a weighted average of six foreign currencies against the U.S. dollar. Currently, the index...

Detecting the end of trends.(Forex Trader)
September 1, 2008... The trading axiom "the trend is your friend" has held many traders in good stead, but the caveat "except when it is at an end" has also held true. One of the most important challenges for the forex trader is to detect the end of trends. When...

I go your own way: Trading off the open: the Waddell retracement strategy is built on the premise that the market tends to do the opposite of what the public believes it will do. With practice, money management and the right market conditions, this technique offers solid profits over a relatively short time.(EQUITY TRADING TECHNIQUES)
September 1, 2008... The equity market rarely acts how everyone expects and the Waddell retracement at the open is based on this concept. Moreover, it is viable regardless of overall current market trends. The setup isn't complicated. The goal is to identify stocks...

I profiting from the gold/oil ratio: foreign exchange, gold and crude oil are arguably three of the most important measures of overall economic health. By looking at the commodity side of this equation, we can better understand the gold/oil ratio in relative terms and see how it can help us trade the market going forward.(TRADING TECHNIQUES)
September 1, 2008... Measuring the price of oil against gold offers a valuable perspective on the true value of these commodities as it provides a unique alternative to measuring them solely against the currency in which they are normally priced. The similarity in...

I taking chart patterns to the next level; Building on the basics you'll find in the futures 101 section, this article examines more advanced chart pattern strategies in precious metals and stock index contracts and how techniques can vary in different market contexts.(TRADING TECHNIQUES)
September 1, 2008... Learning any new skill, such as driving a car, is awkward. Basic task recognition skills, such as putting the car in drive and even adjusting the side or rear windows, is a project. Once the car is rolling, simple procedures, such as changing...

I how algo trading is changing the landscape: algorithmic trading is essentially about market timing and rotation, moving money to optimize its effectiveness, no matter the strategy. This first of two articles provides a detailed look at algorithmic trading.(TRADING TECHNIQUES)
September 1, 2008... On Friday, June 27, 2008. the Dow Jones Industrial Average closed 19.9% below its October 2007 high. The generally accepted definition of the start of a bear market in equities is a 20% drop, which the Dow hit a few days later and the S&P 500...

I can automated scalping work for retail? New technologies and markets allow traders of all account sizes to attempt to scalp short-term profits. Here, we'll examine the performance of a typical strategy, focusing on its implementation, feasibility and potential. We will test the system to see the differences between hypothetical and real trading results.(TRADING TECHNIQUES)
September 1, 2008... The growth in the electronic trading of stocks, futures and options with its low commissions and speed of execution has allowed market data networks that support high-frequency trading by retail customers. Now, retail can keep pace with the...

I chart patterns for beginners: there are few strategies more elegant than chart patterns. The graphical depiction of price itself, price formations deliver a lot of information at a quick glance. All traders, regardless of their primary method of analysis, should at least familiarize themselves with these simple tools.(FUTURES 101)
September 1, 2008... If simple is best, then it's tough to argue against chart patterns. They don't require special software, a computer or even a calculator. All you need, at minimum, are a printed price chart and the knowledge of basic pattern construction. In...

CME group.(EXCHANGES)
September 1, 2008... CME Group will launch CME Cleared Swaps on Sept. 2. CME Group also will offer 3-month Overnight Index Swaps futures and options on futures. The futures contract will be available for a trade date of September 8. www.cmegroup.com

NYSE Euronext.(EXCHANGES)
September 1, 2008... NYSE Euronext added nine ETFs to its EasyETF range. www.nyx.com

Suez environnement.(EXCHANGES)
September 1, 2008... Liffe now offers options contracts on Suez Environnement on its Paris market. www.euronext.com

The New York Mercantile Exchange.(EXCHANGES)
September 1, 2008... The New York Mercantile Exchange launched a Regional Greenhouse Gas Initiative carbon dioxide allowance futures contract. www.nymex.com

The Chicago board options exchange.(INDEXES)
September 1, 2008... The Chicago Board Options Exchange launched the CBOE Crude Oil Volatility Index.www.cboe.com

Newedge.(INDEXES)
September 1, 2008... Newedge's AlternativeEdge Short-Term Traders Index finished the month of July up 0.78%. www.newedge.com

Dow Jones indexes and Brookfield asset management.(INDEXES)
September 1, 2008... Dow Jones Indexes and Brookfield Asset Management launched the Dow Jones Brookfield Infrastructure Indexes. www.dowjones.com [ILLUSTRATION OMITTED]

Interbank FX.(FOREX)
September 1, 2008... Interbank FX launched IBFX PowerStates, a trading tool that allows traders to learn more about the behavior of a given currency pair. www.ibfx.com

Dukascopy SWFX Swiss FX marketplace.(FOREX)
September 1, 2008... Dukascopy SWFX Swiss FX Marketplace entered into a collaboration with Citibank wherein banks, hedge funds and institutions can open an account with Citibank and trade directly on the Swiss FX Marketplace. Dukascopy-SWFX also is now available to...

PFG best direct ProTrader.(TRADING PLATFORMS)
September 1, 2008... PFG BEST Direct ProTrader is now free. www.pfgpro.com [ILLUSTRATION OMITTED]

DTN introduced the DTN ProphetX 3.3.(TRADING PLATFORMS)
September 1, 2008... DTN introduced the DTN ProphetX 3.3 trading platform. www.dtn.com

Deutsche bank.(ETFS)
September 1, 2008... Deutsche Bank has listed two new db x-trackers ETFs on the CAC 40 and the CAC 40 short indexes on Euronext Paris. www.dbxtrackers.com

Invesco powershares.(ETFS)
September 1, 2008... Invesco PowerShares will develop an ETF based on the Nasdaq OMX Global Agriculture Index. www.invescopowershares.com

ACTIV financial Inc.(OPTIONS)
September 1, 2008... ACTIV Financial Inc. and Hanweck Associates launched VoleraFeed, a real-time options analytics service. www.activfinancial.com.

Bloomberg tradebook.(OTHER)
September 1, 2008... Bloomberg Tradebook has launched a new IF/TRAIL algorithm on its futures system. www.bloombergtradebook.com

TradeStation securities.(OTHER)
September 1, 2008... TradeStation Securities now offers flat-fee commission plans for equity traders. www.tradestation.com Send new product information to: Futures, 222 S. Riverside Plaza, Suite 620 Chicago, III. 60606, Fax: (312) 846-4638 Attn:...

Software review.
September 1, 2008... ProSizer TM 384 Unicorn Research Corporation 4621 N. Landmark Dr. Orlando, FL 32817-1235 OVERALL RATING: Available by download from http://unicorn.us.com/trading/ COST: $37.00 REQUIREMENTS: The complete...

Hedges in flight.(Online Trading)
September 1, 2008... For airlines, hedging the cost of fuel has perhaps never been more important than it is now in the midst of a breathtaking ascent in oil prices. One of the most successful airline hedgers, Southwest, recorded a second quarter profit, while...

I forex traders looking short term: recent struggles in forex-specific trading programs have favored the short-term manager who can take quick profits out of volatile markets without relying on the reemergence of long-term trends.(MANAGED MONEY)
September 1, 2008... When we last looked at currency-specific commodity trading advisors, we saw an explosion of new programs that were targeting short-term strategies. Numerous advisors noted that there had been a fundamental shift in the markets that produced an...

I market frontiers: Africa and Latin America: if you think that emerging market ETFs are the only way to access these markets, think again. futures exchanges in Mexico and brazil are now wired into the global trading apparatus, while structures are emerging in Ethiopia, south Africa, and elsewhere.(TRADE TRENDS)(Company overview)
September 1, 2008... "If you go back 150 years. Calcutta, India was more advanced than Chicago," says George Ferguson, who 30 years ago founded an import/export business called Chicago Midwest in part to spread the understanding of markets in the developing world....

Your Money and Your Brain: How The New Science Of Neuroeconomics Can Help Make You Rich.
September 1, 2008... BY Jason Zweig Published by Simon & Schuster 340 pages, $26.00 "Your Money and Your Brain" validates something mechanical traders have maintained all along: we're biologically wired in a way that makes profitable instinctive...

Forex Simplified.
September 1, 2008... By Marilyn McDonald Published by Marketplace Books, Inc. 131 pages, $29.95 A market expert doesn't often illustrate the possible pitfalls of forex trading with analogies about shoe shopping as Marilyn McDonald does in "Forex...

The back page.(Sound Off!)
September 1, 2008... I have been a reader for years of Futures magazine. I always looked forward to reading the profile of traders covered on your back page. I have noticed a trend in this column of leaning toward profiling the hedge fund manager. Although...

Misleading conclusion.(Sound Off!)
September 1, 2008... In [the May] mid-month update [you concluded] that the 1-2 ratio option strategy was better than buying the outright call. What the explanation failed to include was the 1-2 ratio option strategy had the ability to lose the amount paid for the...

Dateline.(Calendar)
September 1, 2008... CONTRACT DATES 1 LTD: BM&F Alcohol OF 3 LTD: CBOT Ethanol F 7 LTD: Nybot Sugar #14 F, Eurex Bobl F, Bund F, Schatz F, Buxl F, CONF F, Euronext-Liffe EuroMTS Eurozone Govt. Broad Index F, MTS Deutschland Govt. Index F, MTS France...

RCM: a short-term revolution.(Trader Profile)
September 1, 2008... What do you get when you combine the resources of several bright investment engineers with a managed futures legend and the resources of his 35-year old institution? Something special. Even before Michael Mundt founded Revolution Capital...