Thanks, I see the contracts are showing up on my system now (introducing broker to RCG). Big drop-off in volume though. Might have to watch these for awhile before jumping back in.
Seth clearly doesn't watch NYMEX volume or open interest: try subscribing to a real time news feed. Since the hurricanes struck, funds have mostly been out of CL: see the low volumes given the open interest. Also, Emini often does 1/3 CL's volume in the first hour: since Emini volume is about 4X the OI, daytraders have had a greatly disproportionate amount of influence on CL price over the last two months. Before making another facile reply, consider also that the emini trades only the front month: since CL front month volume is less than half total CL volume, clearly emini volume is a huge component in front month pricing; also, the CL front month makes prices for the entire CL complex; this, along with the recent low hegde fund participation, makes the case that daytraders have had a hugely disproportionate influence on CL pricing.
the facts speak for themselves however perhaps I will contact someone who trades on the NYMEX floor to ask them their opinion of how long until QM ( or any screen based energy product ) will influence the way they trade energy or if energytraderus is right that QM has since early sept. had more of an influence on CL pricing during regular trading hours www.nymex.com CL JAN 2006 NYMEX friday 11/18/05 open outcry volume 111,722 ( full size crude oil contract ) QM Jan screen friday 11/18/05 volume 33,261 ( for 1/2 size crude oil contract )
I'm just wondering how long it will be till the QM is trading normal again - today has been interesting to watch. And that's just it - watch. Now that oil is closed, it's 2:40pm EST, my QM DOM is showing all zero's... I've never seen this before, perhaps on ClearPort they numbers show zero till it's back online?