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You'll also notice the permabull types continually defend this broken monetary policy because they're usually long-only types who benefit from it. They have to believe because not believing means they have to consider how long they should actually be - and hence also consider the viability of...

There's no free lunch dude. The pain was simply deferred and in the process has just set things up for eventual and even more extreme pain. We'd probably be better off had they just cut rates and did no QE whatsoever.

If the market went for 2700+ I'd be incredibly worried about all the retirement, 401k, pensions etc riding off of that move (heck they're worrying now) and the eventual maelet badness down the road. I understand it could be considered contrarian and thinking outside the box to entertain those...

One scenario I could see would be ES heading to 2110 to start a double top.

Sure, agreed - but we have a case here where USDA FAS comes out with their own findings and the market moves 10%. Not really the same as seeing a "wow look at coffee!" pump piece from the WSJ or similar.

Found the other USDA FAS reports released on 11/18 and 11/19: http://www.fas.usda.gov/data/search?f[0]=field_commodities%3A609 Summaries: Brazil: Brazil’s coffee production for MY 2015/16 was revised down to 49.4 million 60-kg bags, a nine percent drop relative to a revised number for the...

Contract size isn't changing - just the minimum tick increment. Same thing that happened with 6J.

So anyone have any background news on the 5% jump in KC? The only thing I remember seeing today was a USDA Sugar report.

Sadly this is probably true.

Here we go again with the tick changes (just like 6J): http://www.cmegroup.com/tools-information/lookups/advisories/ser/files/SER-7425.pdf?mkt_tok=3RkMMJWW Special Executive Report S-7425 November 19, 2015 Reduction of Price Increment and Amendment to CME Globex Non-Reviewable Trading...

Just another reason I'm glad I stick to futures.

Yes! Which is what makes one question why in the hell they would even eliminate that.

The solution here is not to remove capability and usefulness for to the end user due to market structure and other concerns. If people want to stampede, they'll stampede - removal of stop orders is probably going to lose retail mindset traders a net higher amount of money than leaving them...

Out remaining 6 lots (1.41 avg) @ 2.03. So total duration was 9/17-11/18 (2 months), net 8380$ on 16 lots at peak - which probably isn't even that big compared to other spread traders like @bone, etc.

3yr chart.

Two totally different entities with disparate motivations. They're not to be equated and China is hardly trustable.

How many of you guys hold spreads when one leg becomes the front month? Do you just exit beforehand or continue on as if there's no significant change?

Give an example. I haven't noticed anything horrible.

What they list is what's available and it's isuallt everything that is liquid. There's also 2 exchanges: ICEEU/IPE and ICEEUSOFT (formerly Liffe).