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Strategies & Market Trends : Canadian Options -- Ignore unavailable to you. Want to Upgrade?

To: Porter Davis who wrote (1422)	9/15/1999 7:41:00 AM
From: Porter Davis	Respond to of 1599

For Sale: One White Elephant...Cheap! Seems the clear thinkers at the ME have said thanks, but no thanks to the TSE's free offer of the OM trading system, on which the TSE has to date spent some $15 million. Instead the ME has joined Globex, which combines automation with open-out-cry trading, which in my humble opinion (also shared btw by the NYSE and CBOE for example) is the best and fairest system of trading. The ME, no fools--they, will still take the $28 million from the other exchanges to take over all derivatives trading in Canada, thank you very much. Every other exchange in the world is scratching and clawing to gain market share in derivatives, and the TSE saw fit to pay to get rid of derivatives, plus doing so completely in secrecy (some might say collusion) with the other exchanges. Is it any wonder that the brain trust troika behind this is now all departed, some under a cloud, from the TSE? Unfortunately, their plans are too far down the road to change, I'm afraid. What a long, strange trip it's been. Happy trading. Porter (e&oe)

To: Porter Davis who wrote (1422)	9/15/1999 8:00:00 PM
From: csm	Read Replies (1) \| Respond to of 1599

Porter, thanks for the advice. You are absolutely correct, I should decide what I think PD will do in the next while before changing anything. PD looks very strong but I think it is a little ahead of itself. They are releasing quarterly numbers tomorrow and holding a conference call Friday morning. My guess is that this might temper things a little. I did the calculation you suggested and my break-even for changing positions is probably around $33-34 in October. I think I'll sit tight and see if it weakens before changing anything. As an aside, Chapters.ca has the book you mentioned. They say it usually ships in 3-5 weeks. Amazon says they ship within 24 hours! I'll inquire at the store and see if the online savings are worth the wait. Do you trade Canadian options much? They seem to be pretty thinly traded, the ones I've tried, and there don't seem to be any bargains. The specialist just won't fill you (me) until the stock moves so that your bid/offer is at least equivalent to "market" at the time. Seems to me that you've got to be pretty careful to stand any chance. Stuart.