Futures Trading and Globex Functionality

Win $1000 if you can guess the top 5 places at Daytona!  Entries must be received by Feb 1. 

You can win $100,000 dollars by guessing the closing price of the S&P 500 March Futures contract AND the Nasdaq 100 Futures on March 1st.  You must be 18 or older to enter and poof of age is required at time of redemption.  Entries close Febuary 1st.

Win $500 if you guess the closing price of the March S&P 500 futures on January 29th.  Based on final CME settle price published in the Daily Bulletin.

Win $1000 Win $500 if you guess the closing price of the Feb Crud Oil futures on January 29th.  Based on final CME settle price published in the Daily Bulletin.

I must receive your submission before January 18th.  Must be 18.  Please enter your birthdate in the subject line.  Winners will be contacted by email.

Effective Sunday, December 6, 2009 price synchronization functionality will be launched for the market opening on CBOT, KCBT and MGEX Commodity futures. Price synchronization functionality allows for the alignment of outright and spread prices by enabling implied functionality ten seconds after the market opens.   This will keep price anomalies to a minimum on the futures market open.

Thursday nights sell off in reaction to the uncertainty of Dubai’s ridiculous spending gluttony was great for traders.  Good trading opportunities from the thin holiday markets reinforces the fact that you have to always be ready to take some ticks from the market.  Hopefully we have some follow though to the reaction on Monday and stop this slow grinding train.  S&P futures are up $4 right now waiting for Europe and Asia to open.

This weeks economic numbers created a schizo market but gold continues to run. If you are brave enough to scalp gold than go for it. Jobless Claims below 500K and new home sales jumping seem to negate the dollar getting beaten down. Traders should be hanging on the numbers coming out after Black Friday because they have pumped Black Friday and X-Mas shopping so early this year it would surely disappoint and I would be a quick shorter is store sales are weak.

Trading on Globex had the December Emini S&P up 6 point at 1109.00, December Nasdaq at 1794.25 up 7.75 points, and Gold Future at 1186.90 up $21.40.

Futures Trading slow in Equities but Gold Futures moving on Globex.  Existing Home Sales up 10.1% yet after opening up 20 points the market faded slowly all day. I think the market is not buying into these numbers anymore and starting to worry about the big picture, the dollar. Trading to day should have left you picking up a couple ticks here and there but with the exception of tomorrow you should probably sit tight as the holiday week sets in.

Tomorrow we have Durable Goods (.5%), New Home Sales (410K), Jobless Claims (495K) and the over estimated Consumer Sentiment. Look to take profit on these numbers and possibly a surprise to the downside on Jobless Claims and New Home Sales.

Direct access to the Globex markets can make the difference between making a profit or closing shop. Milliseconds make a difference to a trading system with the right software that is taking advantage of a futures trade arbitrage. Know your futures broker’s access or get direct access yourself. Making a profit isn’t as tough as you think it just takes some diligence.

Globex will be implementing enhancements to the electronic Dow futures November 22nd.  The changes will supposedly reduce latencies on the exchange side by up to 50%.  Other than speed traders will have no other impact.  Happy Trading.

I will be posting any updates to trading and trading functionality to Globex products which includes all products traded on the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and COMEX division.