GO SHORT ON A FIRST TRADE? WHY THE HECK NOT?
Regarding your article "The more Hillary tries to explain..." (Up Front, July 4), as an individual involved in trading at the Chicago Mercantile Exchange, I find ridiculous the assertion from a "top Merc official" that, "it's unheard of for a novice to go short on a first trade." If this top Merc official ever traded for a living, I would be quite surprised, as any good trader knows to follow the trend and not to bias one's trading toward the short or long side. My first futures transactions were to short Treasury bond futures and Standard & Poor's 500-stock index futures. At the time I did those transactions, I certainly would not consider myself to have been beyond the novice level.
Mark D. Bateman