While it’s too early and perhpas there’s insufficient volume to make anything of it, futures prices are higher for most cities than the latest published month (feb 06 see http://www2.standardandpoors.com/spf/xls/index/MetroArea_PriceHistory.xls). Does the “market” know something we bears don’t know or is it an opportunity to play contrarian and make major profits ?
I’m not familiar with the futures market. Anyone care to comment on what it all means … at least as an initial observation ?
Anyone knows of a futures broker geared towards small investors who don’t trade frequently ?
Do not give your money to a futures broker, they are the worst traders on the planet! If you are going to invest in commodities and futures, find someone with a track record of success managing money. Or at the very least, a track record of trading profitably. I could tell you too many horror stories about brokers, both stock and futures.
I think most people in here know that I have been a futures trader for 20 years. I am more than happy to answer any question people have about futures trading. It is way too early to have any early read on this new market.
Housing futures are likely to be very thinly traded for awhile, and that is one thing you definitely want to avoid. Thin markets mean bad fills, lots of slippage ( essentially poor executions ). I will at some point cover this market in my blog, but it is too soon.
Keep in mind that this market is set up for hedging in the big picture. Any small buying is probably the small fries just getting their feet wet. It is such an obvious bet to short this market, that it probably is a bad trade.
I am a trader geared to small investors, but I am not a broker. I have a trading service for bonds that trades about 50 times per year.
You can check it out at http://www.iamafuturestrader.com. I do not want to get into it too much here, as it is inappropriate for me to market myself in here. I think you have my email because I think we have exchanged a few messages, but I might be mistaken.
Thanks Chris. I tried to access your sites but for some reasons couldn’t. Not surprisingly since I’m in China and a lot of sites get blocked for no apparent reasons. Have you done anything to piss them off lately ? 🙂
Re: the housing futures. What baffles me is for most cities, the prices shown were all higher and this applies to all months.
Nothing that I know of, LOL! Try different browsers is the only thing I could suggest. I have tried all of them and they seem to work fine. Maybe spelling, I often type it wrong, the iama part, I seem to leave the second a out.
The volume was only 52 on the first day and 37 on the second. I trade more contracts than that myself in most trades! You cannot make anything out of that.
Based on the finale of 24 (my favorite TV show), I think I am at war with China now! They just kidnapped Jack Bauer! Maybe they know that and blocked my sites!
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