October 28, 2005
Intrade: Alito is the Next Supreme Court Nominee
At 4:00 today on the Intrade futures markets (explained) Judge Samuel Alito went from 11 cents on the dollar to over 50 cents on the dollar in a few minutes. The bid price settled at around 35 an hour later with a substantial spread to the ask price at 43. Strong ask price support in the 40s remains. Alito jumped over all the other potential nominees with the price increase. The previous high contract had been McConnell at 17 cents on the dollar; he has fallen to 6. Luttig is trading at 16; he is the apparent fallback pick. All other candidates are trading at insignificant prices.
The insider money may have joined the betting and Alito looks to be the front runner as the next nominee.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Intrade: Alito is the Next Supreme Court Nominee :
» Intrade: Alito is the Next Supreme Court Nominee from InhouseBlog - News for Inhouse Counsel
According to the Business Law Prof, Judge Samuel Alito will be nominated today by President Bush. Business Law Prof bases this conclusion on stats from the Intrade trading engine. What does Judge Alito's nomination mean for businesses? Read more about [Read More]
Tracked on Oct 31, 2005 4:00:41 AM