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REUTERS UBS to close CBOE, AMEX floor brokerage operations [CWTDVMC]

 

NEW YORK, July 10 (Reuters) - UBS AG said on

Thursday it will close its floor brokerage operations on the

Chicago Board of Options Exchange and the American Stock

Exchange, following a step taken recently by several brokers.

 

The Swiss bank said the move came in response to "changes

in the structure of the listed options market," according to

UBS spokeswoman Amy Rosenberg.

 

An internal memo on the subject said 15 staffers will be

laid off as a result of the change, but that UBS will continue

to provide listed options trades to institutional and wealth

management clients.

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When I look at the chart of Monthly Natural Gas, I see:

 

- a double top

- these tops were clearly climaxes, set under buying panics

- the previous bottom was in winter

- that bottom was not higher than the low prices of the previous years

 

When I read the news, I hear 'master-timer' Greenspan saying bullish things about Natural Gas.

 

When I look at the COT, I see commercials net short.

 

To be fair, I do not trade futures. If I would, I would short Natural Gas. Is this too contrarian for you?

I guess I'm not thinking in terms any shorter than this winter. Greenspan is right, there is a problem coming this winter unless the weather is unusually mild. There just won't be ample stores available to meet the typical demand. So I agree this might not be the best time to go long, but IMO it's not a great short either, except maybe very short term. Sorry for the conflicting time frames.

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Guest AssMaster

Dumped all spec longs for small profit overall. Added more GSS, RANGY and some (profitable) foreign wireless telcos.

 

I won't be buying the dips anymore until October.

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covered my yhoo short, (made enough for a 4 star dinner with the wife)  pig will at lease make an attempt to close the gap - reshort then

from other ids.QUOTE (coboy @ Jul 10 2003, 03:45 PM)

QUOTE (PDoody @ Jul 10 2003, 02:42 PM)

 

Does intc eport today? They're among the best spinners. If they pop it I will short it.

quote Coboy:

INTC reports on July 15..

 

Funny institutions have been selling INTC.. Yahoo shows 3.85 million shares sold in the latest quarter by insts..

quote Pdoody:

I've had a small initial short position on yhoo thanks to a newsletter rec.( against better judgment from technicals). Was way in hole yesterday getting fed up and today presto- in the money. should have been adding when I was puking. Scam week will surely fill the gap.

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