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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: donald sew who wrote (6534)10/16/1998 8:31:00 AM
From: Tom Trader  Read Replies (1) of 44573
 
Don, to address a couple of points that you've made on other threads

Re fair value--the futures did close 10+ points over fair value and so a decline of that amount before the open would bring it in line with fair value--at this moment it is trading down 4 points--but a lot can change by the open--it was 9 points down when I woke up this am.

Re open interest--much depends on how many of the people holding calls that are in the money after yesterday's action closed them out yesterday or will do so today during intra-day trading. So the open interest is a moving target.

Re today's action, I expect a volatile day with the futures testing the high end of yesterday's range and where it will close is up in the air--but it would not surprise me if it-- and the market closes-- quite a bit lower.

I'll be back later before the market opens.
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