Russell`s Fate ?

[walterw 10]

Does someone know what is Russell`s fate at this point ?

 

Will it keep trading ? until when ? etc etc.... if someone is more informed than me, I will appreciatte this information.... thanks Walter.

[MrPaul 10]

I heard that the switch would take effect starting in Sept.

 

Really sucks too cause I love to trade the Russell, excellent range, tick value...everything. Stupid ICE:thumbs down:

[feb2865 10]

Does someone know what is Russell`s fate at this point ?

 

Will it keep trading ? until when ? etc etc.... if someone is more informed than me, I will appreciatte this information.... thanks Walter.

 

By the end of August 2008 CME will no longer be offering ER2

 

The owners of all Russell indexes have decided to give exclusive distribution rights to ICE.

 

ICE has probably the higher cost of all exchanges combined and I know for a fact that traditionally, many broker houses are not inclined to offer ICE products.

 

ICE has a very bad reputation, experience included on this comment.

 

 

As to why the Russell's are doing this??? beats me...is one of the most "scratch your head" transaction I have ever seen on this business and I have seen a lot.

 

I suspect liquidity on the Russell products will go very thin as very much all ICE products

 

My advice is be careful, especially close to that date. Don't hold overnight positions after June 2008 especially on ER2.

[walterw 10]

Thanks for info... at this point I am just trading YM... got used to it and it still pays the bills... cheers Walter.

[BlowFish 10]

I'd be interested to hear what people are planing switching too? I guess YM NQ or ES are the obvious candidates?

 

Cheers,

[torero 10]

By the end of August 2008 CME will no longer be offering ER2

 

The owners of all Russell indexes have decided to give exclusive distribution rights to ICE.

 

ICE has probably the higher cost of all exchanges combined and I know for a fact that traditionally, many broker houses are not inclined to offer ICE products.

 

ICE has a very bad reputation, experience included on this comment.

 

 

As to why the Russell's are doing this??? beats me...is one of the most "scratch your head" transaction I have ever seen on this business and I have seen a lot.

 

I suspect liquidity on the Russell products will go very thin as very much all ICE products

 

My advice is be careful, especially close to that date. Don't hold overnight positions after June 2008 especially on ER2.

 

Thanks for the info and nice to see you back here again, feb!!! Where have you been?!!

 

I'm already starting to monitor and watch EMD, as it's the closest thing to ER2. Although I haven't started trading yet, I'm still making preparations. I noticed the slippage is sometimes 2 ticks, more often than ER2. So have to try to be careful and use limit orders more often.

[feb2865 10]

Thanks for the info and nice to see you back here again, feb!!! Where have you been?!!

 

I'm already starting to monitor and watch EMD, as it's the closest thing to ER2. Although I haven't started trading yet, I'm still making preparations. I noticed the slippage is sometimes 2 ticks, more often than ER2. So have to try to be careful and use limit orders more often.

 

Hey Torero

 

I had a big operation on my neck to remove a mass. Still struggling here but all is good( gotta be positive). I've been away from the markets from quite a bit.

 

I traded EMD in the past, whit few contracts(2 to 5) and I had no slippage problems at all( well like you say 1-2 ticks here and there at market). I have to check if liquidity has increased since last time. I like this instrument as is very trendy and smooth.

 

As to where traders migrate once the switchover happens, sincerely is hard to tell. I wish they go to EMD. Another choice will be YM. At this moment we can only speculate.

[torero 10]

True. It's difficult to leave an instrument you trade for so long and only to have it pulled under you. A place you call home is now an abandoned house.

 

I'm sorry to hear you've been struggling with your health. I had thought you've moved on to greener pastures (I mean other sites, not Death, God no). Hope all goes well with your recovery and health and see you contribute more of your experience and insight!

[Soultrader 12]

Good to have you back feb! Hope you are feeling better and looking forward to all your great posts.

[feb2865 10]

True. It's difficult to leave an instrument you trade for so long and only to have it pulled under you. A place you call home is now an abandoned house.

 

I'm sorry to hear you've been struggling with your health. I had thought you've moved on to greener pastures (I mean other sites, not Death, God no). Hope all goes well with your recovery and health and see you contribute more of your experience and insight!

 

Thanks a lot I sincerely missed you all as I think this site is the best community of traders in my opinion.

 

Yeah I feel your pain. I love Mini Russell too.

 

By the way, how has been it's volume lately???

[feb2865 10]

Good to have you back feb! Hope you are feeling better and looking forward to all your great posts.

 

Thanks a lot!!!!

[torero 10]

I'm not sure since the summer volume is in effect and the range has been narrowing. I can't tell if it's the migration or the summer. In either case, I haven't traded much because of poor price action. I've been more involved with agriculture since beginning of summer due to good range and gaps. I wish I knew this market before.

[feb2865 10]

I'm not sure since the summer volume is in effect and the range has been narrowing. I can't tell if it's the migration or the summer. In either case, I haven't traded much because of poor price action. I've been more involved with agriculture since beginning of summer due to good range and gaps. I wish I knew this market before.

 

Which ag are you trading??

[torero 10]

Right now, mainly corn and wheat. I was trading also soybeans and soybean meals before the 7/15 expiration. With the sept contract, volume just disappeared on last 2 ags even though the move is excellent. Without volume I don't trust them. Corn and wheat volume are still decent. It's my first year with ags so I don't have experience on seasonality other than books I've read on them. Do you trade ags to feb?

[feb2865 10]

Right now, mainly corn and wheat. I was trading also soybeans and soybean meals before the 7/15 expiration. With the sept contract, volume just disappeared on last 2 ags even though the move is excellent. Without volume I don't trust them. Corn and wheat volume are still decent. It's my first year with ags so I don't have experience on seasonality other than books I've read on them. Do you trade ags to feb?

 

I traded corn long time ago, back in the 80's Yes seasonality played a big role back then...and keeping an eye on the weatherman. I did good shorting corn back in the drought of 86. Nice volume and was very trendy. I am curious as I got a call from a friend of mine not long ago saying that she's doing a killing on Ag's.

 

I am coming back from a short forced retirement and I am feeling like a newbie into the extend that I am not a tune whit what's going on on the markets lately. Of course the ER2 situation caught my eye and I decided to do a lil research. Hope you don't mind if I keep asking questions, as I need to get back on track

 

I am so sorry walter I have no intentions to hijack your thread

 

Be blessed

 

Raul

[walterw 10]

I traded corn long time ago, back in the 80's Yes seasonality played a big role back then...and keeping an eye on the weatherman. I did good shorting corn back in the drought of 86. Nice volume and was very trendy. I am curious as I got a call from a friend of mine not long ago saying that she's doing a killing on Ag's.

 

I am coming back from a short forced retirement and I am feeling like a newbie into the extend that I am not a tune whit what's going on on the markets lately. Of course the ER2 situation caught my eye and I decided to do a lil research. Hope you don't mind if I keep asking questions, as I need to get back on track

 

I am so sorry walter I have no intentions to hijack your thread

 

Be blessed

 

Raul

 

Feel at home Raul... interactions are welcome from all perspectives... and its nice to see you arround.... cheers Walter.

[feb2865 10]

Feel at home Raul... interactions are welcome from all perspectives... and its nice to see you arround.... cheers Walter.

 

Thanks Walter!!!

[BlowFish 10]

I'm not sure since the summer volume is in effect and the range has been narrowing. I can't tell if it's the migration or the summer. In either case, I haven't traded much because of poor price action.

 

I would concur with volume though I am not sure about the range. It just kind of feels a bit thin and skittish. The DAX is similar so I presumed summer had officially started.

 

Cheers.

[torero 10]

I can only assume institutions and hedge funds who use ER2 as hedging vehicles in large volume have to study and researching with seriousness about ICE's reliability in loading and unloading large volume and uptime. I remember CBOT had a few glitches over a last few years and they happened during a volatile and high volume day. Makes you wonder if they can deliver what CME has been managing so well doing it. So if the institutions decide to pull the plug and go with EMD, we'll notice it soon enough. I'm watching EMD for any increase in volume. If there is increase in volume during the summer compared to previous summer, it might be a positive sign.

[Cogniato 10]

feb,

ER2 130day avg vol is 206,000 contracts/day. Today it was 538,000. Just when it is getting liquid, they pull the plug. I found many ways to get an edge in the ER2's that aren't available as often in other indexes - may of them based on the reliable fact that the smallcaps overshoot the big indexes on big moves and are slower to respond to turning market internals, giving good major move entry points, and better % gains with less commission costs. ER2 also allows greater granularity in analysis because it is continually directional as opposed to the frustrating "stair-stepping" of the ES's.

 

The new SMCu07 (SP600 SmallCap futures) contract at CME will start trading 8-19-07. No exchange fees until March 2008 = cheap commissions! I have been studying the SP600 SmallCap Cash Index at CBOE ($SML.X Tradestation), and it tracks virtually identical to the Russell Cash, down to the one minute. The same advatageous charactristics may hopefully still apply. It also pays $10.00 per tick or $100.00 per point, which I love about

ER2.

BTW I also had open neck surgery to remove a mass in Dec 06, took me about 5 months to normalize. Lost a new trading job with one of the world's largest prop trading houses cause I couldn't show up, and I was too new to build solid performance before my surgery. I am starting to kick butt now though.

[torero 10]

Hi Cog, I checked out the S&P 600 but it's too new and it may need some time for decent volume to get in gear, at least 6 months to get an idea about volume, slippage, etc. If it's the same as you say, I'll be watching. EMD in the mean is not so bad. Do you have any insight comparison between EMD and ER2? I've done some strategy testing on both and they produce very similar results. For now, I think I may stick with EMD.

[walterw 10]

Hi Cog, I checked out the S&P 600 but it's too new and it may need some time for decent volume to get in gear, at least 6 months to get an idea about volume, slippage, etc. If it's the same as you say, I'll be watching. EMD in the mean is not so bad. Do you have any insight comparison between EMD and ER2? I've done some strategy testing on both and they produce very similar results. For now, I think I may stick with EMD.

 

My two cents here... if for any reasons your position is not closed at the end of the session EMD margin is 16 k per contract... something to have in consideartion... cheers Walter.

[Cogniato 10]

feb,

ER2 130day avg vol is 206,000 contracts/day. Today it was 538,000. Just when it is getting liquid, they pull the plug. I found many ways to get an edge in the ER2's that aren't available as often in other indexes - may of them based on the reliable fact that the smallcaps overshoot the big indexes on big moves and are slower to respond to turning market internals, giving good major move entry points, and better % gains with less commission costs. ER2 also allows greater granularity in analysis because it is continually directional as opposed to the frustrating "stair-stepping" of the ES's.

 

The new SMCu07 (SP600 SmallCap futures) contract at CME will start trading 8-19-07. No exchange fees until March 2008 = cheap commissions! I have been studying the SP600 SmallCap Cash Index at CBOE ($SML.X Tradestation), and it tracks virtually identical to the Russell Cash, down to the one minute. The same advatageous charactristics may hopefully still apply. It also pays $10.00 per tick or $100.00 per point, which I love about

ER2.

BTW I also had open neck surgery to remove a mass in Dec 06, took me about 5 months to normalize. Lost a new trading job with one of the world's largest prop trading houses cause I couldn't show up, and I was too new to build solid performance before my surgery. I am starting to kick butt now though.

 

regards,

Cogniato

[Reaver 10]

Cog, Feb,

 

If ya'll don't mind me asking- what kind of mass?

 

Best wishes on the road to recovery.

[torero 10]

My two cents here... if for any reasons your position is not closed at the end of the session EMD margin is 16 k per contract... something to have in consideartion... cheers Walter.

 

Wow! Really? I have to take a look again CME specs. Thanks for pointing that out. I thought the margin was the same, you're talking about 16k per contract right?