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• Into the Pit by Joseph Wilson

  ARTICLE SYNOPSIS ...Into the Pit by Joseph Wilson In December 1985, I was approved for membership to the Chicago Mercantile Exchange. I obtained a membership to the Index and Options Market, which gave me the right to trade the S&P 500 futures. Let me digress for a moment. As you may already be aware, the S&P 500 futures have taken the brunt of the heat from the regulators who are looking for a scapegoat for the October 1987 crash in the stock market. I disagree with their criticisms, but that is another story. The ""big guys"" trade the futures market in two ways: first, as a hedge for the stock portfolios and...

AUTHOR: Joseph WilsonDATE: JAN 1989