Changes to Mini Russell 2000 REDUCTION IN THE PRICE MULTIPLIER Effective Monday, December 5
REDUCTION IN THE PRICE MULTIPLIER FOR ALL ICE RUSSELL CONTRACTS Effective Monday, December 5, the price multiplier for all Russell futures contracts traded on ICE Futures U.S. is being reduced by 50%, from $100 X Index to $50 X Index*. This means that the nominal value of each futures contract is also reduced by 50%.
Among the effects of the multiplier change: • All ICE Russell futures and options positions that are open at the close of trading on December 2 will double (the Exchange does this automatically)
The tick size for the futures contracts DOES NOT change (.10), but the value of the tick DOES change, decreasing from $10 to $5 To accommodate this change, the Exchange and Clearing fees for Russell contracts will also be reduced by 50% as of December
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2. Hot Market Report - Nymex Crude Oil Prices Soar After OPEC Agreement
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge
The Nymex crude oil market shot sharply higher and gained 10% in value in one day Wednesday, following an OPEC meeting that saw a crude oil-production-cut agreement reached.
Prices have pushed above what was very strong chart resistance at the $50.00 level.
While the bulls have gained the overall near-term technical advantage with this week's surge, the sledding will get much tougher for the bulls with prices above the $50.00 mark. Stay tuned!
Disclaimer: This calendar is compiled from
sources believed to be reliable. Moore Research Center, Inc.
assumes no responsibility for any errors or omissions. It is meant
as an alert to events that may affect trading strategies and is not
necessarily complete. The release dates for certain economic
reports may have been rescheduled.
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.