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Good point. Too many forget to check their Delta's. You can figure out your total exposure using dwl603's math on your whole book. Yes, I like to be hedged overnight. My overnights are bets on outperformance of peers or index, not always just directional. Most traders on here know this, but...

I don't know if I am being pig-headed or anti-American; but taxing people that have healthcare, and pay for it, to provide for people that will receive it free, concerns me deeply. If they just say they are going to raise taxes its one thing. To say they are targeting one fortunate subset to...

Old saying in event driven investing, which is what this is seeing as you are wagering on the fact that they will pay and on a somewhat timely basis: It's your best trades (biggest returns) that kill you. If it were that easy, everybody would be doing it. Something will go wrong. How 'bout a...

AIG - no way to value that I know of: Gov owns 80% and is owed $180 Bil. 1:20 reverse so that Goldman could short against margin deficiency was the joke this week. You have all wildly spec stocks on. It looks like a customer of Datek's portfolio from 1990. Like your searcing for the next...

Unfortunately their biggest customers are making airplanes and cars . . . and not very many these days.

In what country? All day long bond market rally, especially after successful 3yr auction, had rates much lower? It's the complete opposite, if anything a flight to quality because of a weak equity market.

Here's another guy, joined last week . . . No idea what moves markets, knows only what he reads in the Daily News or some other liberal rag or if Cramer tells him its so. Am I delusional for reporting what traders were pointing to as they sold into a selloff. Maybe it would intrigue you more if...

Oh great, now we got a guy from Bear Stearns Asset Management chiming in. You're not too busy now either I guess. I heard that the UFO's just hit in Islamabad, good grief! Golly gee . . .

Bob, 9/11 . . . that was nothing. I had a full pad on Monday morning Oct. 19th . . . . . . 1987, - that was a selloff. But still, when my JPM went from 33.35 to 32.70 in minutes because of some camel jockey sabre rattling, it urks me. Cheers, Tide.

Do you trade? A 10 handle move in the big SPU's from 3pm -4pm is not a move that affects you? 89 to 88 in SPY. Oil I could give a crap about, some guy implied it should be moving off a rumor. My 'point' was, traders in pits and upstairs were lightening up because of this bullshit rumor at 3pm...

Oil IS moving? Down to $62.22 or over 1% since close. Which way would it move in your opinion? Lowered air traffic after an attack, so I guess it would get crushed, no? As far as the credibility of the sites . . . don't shoot the messenger, I'm just relaying why guys were selling. Then...

Traders were selling because of the specific threat for tomorrow and Thursday 7/8-7/9 to coincide with the G-8 summit. Otherwise, we have heard this stuff before.

I have not even seen this on US News Services yet, I don't know if any of you has, but I believe this to be the main cause of the very end of day selloff. Supposedly it posted around 3pm EST and was spreading amongst traders by 3.45pm or so. I know some hedgies were dumping stocks because of...

You could not be long 120,000 shares because with 3mm BP you would still be restricted as to # of shares in one name and $ amt in one name. You can't just go out and spend it all in one name, not how it works. 3MM BP would probably be 500k BP overnight and limited # of shares in one name...

Not sure what 'independant contractor' is but there are two scenarios at a place like this: -you have series 7,55,63 and they let you trade 50x intraday and 4x overnight. If you are all in on DNDN and it is down more than 25% then they are at risk for that. You owe them the money, if you skip...

I don't know why anyone that short-term trades would ever send an order to the NYSE other than an MOC? I trade only thru ECN's for speed and cost. My system looks for best offer, but I start with ARCA. Floor traders on the NY - that's a joke right? Pit traders for S&P are severely disadvantaged...

I find this discussion of a trivial topic a bit borish, but I will add my two cents anyway. I was a principal/officer/Series 24 of one of the worlds largest banks for a very long time. FINRA demands fingerprints for one reason, the same reason that my prop shop, should I ever open one would: To...

Yoy guys may be too young to remember Dan Dorfman. The root of this story stinks of someone short the banks. LEH and Bear Stearns were 'Investment Banks'. Brokers levered 100 to 1. That model no longer exists. Model worked fine unless you get a perfect storm, a 3 standard devation move, which...

Funny because it would be in California and Shwartzeneggar said just today that he wants to release nonviolent prisoners to save the state money. But then again they don't have money because of the severity of the housing crisis there of which Countrywide was at the root. Maybe they will make an...

How come none of you university guys can spell?