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"Sell Limit"
You need to go with IB and post a "sell limit." I want to see your next picks. Let's get that model running for us all!
Originally posted by mrmarket
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Two words: Limit orderOriginally posted by mrmarket
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no..it's more fun to be at my computer when my sale occurs. Hey, I was hitting the ball 330 yds with my new Cobra 460 SX driver. I mean I was crushing it. All the people I was playing against were crying cuz I was making them my bitch.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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But, $$MM$$, were your HUGE drives going straight? Seriously, it's awesome when the driver gets going. Makes the game even more fun.
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We have a lot of bitches at the prison.Originally posted by mrmarket
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Once again, IBD rips off my stock picks!
Investor's Business Daily
Favorable Trends Have Futures Exchange Turning Up The Volume
Thursday June 16, 7:00 pm ET
By Steve Watkins
As more investors hedge their bets through the use of options and futures, Chicago Mercantile Exchange Holdings is reaping the rewards.
The company has set volume records in each of the first four months of 2005. First-quarter volume gained 39% from the prior year. And trading volume is averaging 4.5 million contracts through the first two months of the second quarter -- a 32% gain.
Higher volumes are the Holy Grail for Chicago Mercantile (NYSE:CME - News), known as the Merc.
It collects a fee each time a trade is made. The lion's share of sales comes from those fees. The firm trades stock index, interest rate, foreign exchange and commodity contracts.
Follow The Leader
Chicago Mercantile, the nation's largest futures exchange, is also a trendsetter. It was the first U.S. exchange to go public and an early adopter of electronic trading.
Some of the New York Stock Exchange's recent steps show just how far ahead of the curve Chicago Mercantile has been.
"(The NYSE is) emulating what Chicago Mercantile has been doing for years," said analyst Joel Gomberg of William Blair & Co.
Three factors are driving the Merc's trading volume growth.
First off, investors are more aware of futures trading and more willing to use it. Volatility in interest rates and currency around the globe also fuel more futures trades.
And Chicago Mercantile has snared market share from rivals by promoting electronic trading and becoming a more global player.
"They're extending their tentacles around the world," Gomberg said.
The Merc's global share among top exchanges increased from 26% two years ago to 31% last quarter. It trails the leader, Eurex, by only one percentage point.
Chicago Mercantile operates 24 hours a day, reflecting its global growth. Chief Executive Craig Donohue says the firm has seen particularly strong growth in Europe and Asia.
Uncertainty Equals Demand
In a report, analyst Charlotte Chamberlain of Jefferies & Co. notes that several market factors play into the Merc's favor.
Bond market uncertainty boosts Eurodollar trading, she says. Even recent French and Dutch votes against the European Union's constitution help.
"That kind of indecisiveness creates massive uncertainty in foreign exchange markets and in turn increases demand for foreign exchange options and futures," Chamberlain wrote.
The growth in electronic trading also helps. In the first two months of the second quarter, 71% of Chicago Mercantile's trading was done electronically. That's double what it was three years ago.
The Merc makes more money on those trades than it does on the old-style floor trades, Donohue says.
It all adds up to steady financial gains. Chicago Mercantile's first-quarter revenue grew 32% from the previous year to $224 million. Profit was up 51% to $2.04 a share.
Analysts polled by First Call expect earnings for all 2005 to climb 33% to $8.49 a share.
The bottom line should get a boost from Chicago Mercantile's recent decision to raise fees across all of its products in August.
"That should be accretive, and it should benefit their margin in 2006," Gomberg said.
There doesn't seem to be much customer backlash to the higher fees, CEO Donohue says.
"The vast majority of customers understand we're the low-cost provider in the marketplace," he said.
Meanwhile, the Merc keeps building its distribution channels. In March, it signed a deal with Reuters to distribute Chicago Mercantile's foreign exchange futures.
"It's an innovative way for them to expand distribution and gain share of the market," Gomberg said.
He says the Merc currently has only 5% of the growing market for foreign exchange futures.
"We want to capture a part of (that market's) growth, and we think we're well-positioned to do that," Donohue said.
The Merc keeps rolling out new products, too. Stock index futures are growing. And major currency contracts have exploded, more than tripling from two years ago.
That's all part of the Merc's plan.
"We're very focused on innovation and bringing new products and new product extensions to the market," Donohue said.
Chicago Mercantile is eyeing options as a key growth area, he says. While 80% of its futures trades are electronic, only 4% of it options trades are.
The company is starting to offer electronic trading in some of those products, such as the Eurodollar.
"We think we can really further expand those products by offering electronic trading," Donohue said.
The challenge is to keep setting itself apart, he says. "Other exchanges are becoming more like us. We have to continue to distance ourselves."
'Strong And Growing'
In terms of risks, one of the biggest is the possibility of calmer waters in the currency and interest-rate markets. Volatility in those markets helps push business at Chicago Mercantile.
Analyst Chamberlain says she expects daily volumes to slip slightly in the second half of the year.
Longer term, that's not likely to be the case, Gomberg says. The yearly growth rate of the top exchanges averaged 15% over the past decade and 25% in the past five years.
"The secular trends are strong and growing," Gomberg said.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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and so does Forbes!
From The Chart Room
Chicago Merc Flies A Bullish Flag
Matt Rand, 06.16.05, 10:11 AM ET
NEW YORK - In 2004, shares of the Chicago Mercantile Exchange more than tripled to close the year at $227.73. Since then, they've coasted downward, nearly to $170 and then, beginning in April, spiked back up with a vengeance.
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The springtime ascent for Chicago Mercantile Exchange (nyse: CME - news - people ) came on the heels of Nasdaq's (nasdaq: NDAQ - news - people ) announcement that it was acquiring electronic exchange Instinet (nasdaq: INGP - news - people ), and the New York Stock Exchange's announcement that it was going public and acquiring Archipelago (nyse: AX - news - people ), another electronic exchange. Expectations are high now for the Chicago Mercantile Exchange. The futures and currency exchange closed Wednesday at $258.18, or 9.8 times its book value and 36.5 times trailing earnings.
Dan Zanger of Chartpattern.com doesn't worry that the price is inflated. What he sees is a bullish flag pattern: a period during which a stock consolidates after a short period of substantial gains. Many times, the "flag" is just one period of consolidation in a longer-term uptrend.
In the Chicago Mercantile, Zanger likes the consolidation above $250, and he says CME is ready to take off. The final leg of its recent climb was nearly vertical, and Zanger says that represents the mast of the bull flag on the stock's chart. As a rule of thumb, when a stock breaks out of a flag pattern, the upside is considered to be equivalent to the length of the "mast" of the flag--or the distance from the previous break out. In the case of the Merc, that's about $50.
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Other good signs have been high volume on up days, and declining volume at current levels, which may indicate that there are fewer shareholders who want to sell at these prices. Because Zanger thinks that the pattern is so tight, he predicts that the CME could break out to $300 within a month, a quick gain of more than 16%.
For those who may be cautious of losing money on a stock that's already gained so much, Zanger recommends a stop at $240, or the lows of the flag.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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rut-ro..going the wrong way
good thing I'm on vacation, I didn't want to have to run the model in my bathing suit (though I will if I have to).=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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Big news...tomorrow could be the day I finally sell this one:
CME says its competitive position is strong
Tue Jun 21, 2005 04:01 PM ET
CHICAGO, June 21 (Reuters) - Craig Donohue, chief executive of the Chicago Mercantile Exchange (CME.N: Quote, Profile, Research) said on Tuesday the largest U.S. futures exchange is in a strong position to fight off potential competitors and grow.
"The scale of our business and our level of liquidity is a pretty strong barrier to entry" by competitors, Donohue said at a William Blair & Co. conference.
CME's customers, which include the world's largest financial institutions, are looking for "low fractional and transaction costs" that high liquidity can provide, he said.
Donohue did not refer directly to Germany's Eurex AG (DB1Gn.DE: Quote, Profile, Research) , the world largest derivatives mart, which said last week it would launch currency futures in September.
Although futures represent only a fraction of the $2-trillion-a-day currency market, the CME accounts for about 95 percent of that futures turnover.
Considering other potential competitors, Donohue said over-the-counter markets can go up against the CME because "there are always ways to construct theoretical substitutes" to futures.
However, benefits such as the elimination of counterparty risk created by an exchange-traded product backed by a clearing house "does not exist in the OTC market," he said.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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Why did they pick this dork as a director???
You'd think that they would vote in directors who would actually hold onto the chump change they give you to sleep through these board meetings! Maybe this guy told some chick he was related to Adam Sandler????
MarketWatch
Market Pulse: Chicago Merc director sells $2.5M in stock
Tuesday June 21, 11:36 am ET
By Steve Gelsi
NEW YORK (MarketWatch) -- Chicago Mercantile Exchange director John F. Sandner on June 17 sold 10,000 shares at prices of $254-$254.96 a share and a market value of $2.54 million, according to Thomson Financial. It was his second insider sale in June. On June 6, he sold 10,000 shares with a market value of $2.5 million. Shares of the Chicago Mercantile Exchange rose 0.9% to $252.35 on Tuesday.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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I agree, that guy is a total dork. I'm voting him out next chance I get (that would be after I win the powerball jackpot).Originally posted by mrmarket
Directors are supposed to steer the company to success, not dump shares!Comment
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would you look at CME go!
$$MM, are you awake? you'll want to be for this move... CME is going straight up, and is now about $1 away from your target. At this rate it'll be 260 in about 2 minutes.
this is an awesome pick, $$MM. You are HUGE!!!!Comment
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ok, 3 minutes... but anyway, it's above your target now.Originally posted by jiesen
ready? aim...Comment
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CME oh my!
MRMARKET how does he do it? I for one can't wait for the next pick. I hope his mind will not be soft after spending a most excellent week in cheeze country. Hey pass the tater chips and gimme me another beer! What!!!!!!!!!! I drank the whole islands supply?
No meats but plenty of the finest cheeses."my elbows are hinges, my arms machines"Comment
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Mr. Market,
I'm not gay , but I could kiss you right now. Just sold CME for over a 100 point gain. How many people can do that ? Mr. Market isn't greedy enough to hold on for 100 , I am !
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