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Non-Tech : XXXXXXX

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To: Janice Shell who wrote (2097)12/13/1997 5:09:00 PM
From: Joseph G.  Read Replies (1) of 2563
 
J,

<< I think we've gotta forget about mere calls--we go for a speculative Strategy involving 600 futures contracts, as the Grain Exchange recommends.>>

On the contrary, a call position on 6,000 futures contracts can be very rewarding, and I don't mean only morally. The moral part comes when feeling strong feelings about the exchange imposing retroactive position size limit of 60 contracts on non-economic speculators in BTS, and declaring all contracts in excess of the position limit void and unenforcible, as of yersterday.

What say you?

J+
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