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Strategies & Market Trends : Canadian Options
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To: Daniel Chisholm who wrote (1490)3/7/2000 9:50:00 PM
From: Porter Davis  Read Replies (1) of 1599
 
>>I wonder what Porter thinks about this?

I wonder what the world thinks of the TSE. But then we've been down this road before. They crow about being the premier exchange in Canada and even the green as grass CDNX was trading actively with no problems. Our options systems have been wonky lately...yesterday we were without our delta program after about 10AM which makes it a little hairy to trade a stock like Ballard which opened up about $10 then dropped $20 from the highs. It's strictly 'by guess and by God', and that's not good enough when there's serious money on the line. Then today even before the TSE announced there wouldn't be any trading at the opening our ARM (auto-rotate) system wasn't working. Without that we literally can't call markets. 13 trading sessions to go before we move to Montreal. I make it even money we have at least two more shut-downs between now and then.

Oh, today we got the first official announcement from the TSE that it was getting out of the options business. Nice, eh? Plenty of lead time.

Did anyone notice the Dow's down 15% for the year? I look at Bell trading at $175 and realise I would be comfortable buying it around $120. How about $200 for Ballard when it was $40 at the December expiry? Too much, too fast. Well, that's what makes a market.

Happy trading.

Porter
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