E-mini S&P MidCap 400 futures

Discussion in 'Index Futures' started by buzz, Oct 15, 2006.

  1. buzz


    Has anyone traded the E-mini S&P MidCap 400 futures and if so how do you find it.


  2. buzz


    Based on a key benchmark for mid-size U.S. companies, CME E-mini S&P MidCap 400 futures offer financial institutions, investment managers, corporations and private investors market exposure to mid-size U.S. company stocks without having to buy the individual company stocks. It also can be used as a valuable risk management tool for investments in that area of the stock market. Because of its size, these contracts are affordable for nearly all traders.

    When looking at the sector breakdown of the S&P MidCap 400 Index, financials, consumer discretionary, industrials, information technology and health care comprise the biggest market percentage. Other significant sectors in the Index include utilities, energy, consumer staples, materials and telecommunications. A complete list of the stocks included in the underlying S&P MidCap 400 Index can be found at www.spglobal.com.
  3. Have you gone onto the CME website to see what the daily volume is? If you do it will answer your question.
  4. Fine to trade one - two contracts, max. Very illiquid, commonly slips a tick or more on the exit.

    Smoothest emini mover, reminds me of what the ER used to be in 2004 before the chicken-pick scalpers and program slammers turned it into what we have today.

    MD is fit for one-lot or two-lot traders only.
  5. buzz


    I know the Vol is low, but if you look at the chart, there are no gaps, it looks good to trade, I will take a look tomorrow and see what the bid and offers are like and how it acts.
  6. http://www.elitetrader.com/vb/showthread.php?s=&threadid=75397&perpage=1&pagenumber=32

    You have the puzzle in front of you with the corner pieces in place...now put it together.


    There are gaps in the E-mini S&P MidCap 400 futures and if you don't see any gaps via comparing yesterday's closing price to the folloowing trading day opening price...

    Something is wrong with your data provider.

    I wouldn't trade the S&P MidCap 400 futures until its volatility develops into the type of volatility that ER2 displays.

    (a.k.a. NihabaAshi) Japanese Candlestick term
  7. buzz


    I agree, I was going to mention that, this could this be the new ER2 in the next few years...I will take a look at the Vol on the bids & offer. The first time I looked at the chart today, I am looking for something that trends. I am also looking at ETFs
  8. NQ is the trendiest emini contract... with good liquidity. I've traded the MD(ME) before, it is just too illiquid for any amount of size at all.

    Too bad, trades $100 per point and is a great compromise between ER and ES for price behavior. Pump in some open interest and volume, it'd be good to go until the scalpsters and program slammers hammer that one, too :<(
  9. I've been trading EMD since mid-2005 and I love it. It shows significantly less "spikeiness" than ER2 and much smoother trends. It does provide problems for large trade sizes, I often see 1-2 tick slippage, but even in my daytrading system this isn't a real problem. For my type of system ER2 has become essentially untradeable, similar to ES. I guess it means I need to find another system :)

    One thing to watch out for -- the bid/ask spread can be 1-2 points ($100-$200) after hours, so exiting a position can be very costly (usually only 5-10 contracts trade overnight).

  10. buzz


    I been studying different markets over the weekend, I am a day trader/scalper. But I feel IM getting a bit old for it lol and was looking for a nice market to hold for a few hours to 2 days.

    and yes, NihabaAshi I seen the correlation between ER2 and MD400.....but still cant find one for ER2?
    #10     Oct 15, 2006