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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (37949)	10/21/1999 8:41:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

Well, without a live feed on the CME you can try quote.com Typing in es99z should give you R/T Mini quotes which are usually close Typing in sp99z will give you 10 minute delayed SnP quotes. There is a B/A. It's an Open Outcry system. Let's say your order is in the pit....You are Bidding 100 @ 1290. No one is ahead of you and someone is willing to Sell 10 at 1290.20 Now someone wants to run it up to take it down. He bids 1 at 1290.10 and the Seller at 1290.20 goes up to 1290.30 You are no longer bidding. You're out. Typically, the spreads run around 20 cents....20 points. But there is no one in the middle making the chop. Now, in a reasonably normal market there will be a pit trader who will fill your order on the Offer and then go on the bid. But s/he's not a specialist. S/he is just a trader trying to scalp a fast trade. Most of the pit traders try to do this much of the day. But just because your order goes in on the bid does not mean you won't get done. Does not mean you will get done either. But if you are the one bidding 100 @ 1290 then the market has to take out your bid before it can fill anyone at 1289.90, does that make sense?