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yes agreed. Ex. SP500 low shows 835 I don't think it broke 840 Friday. It looks Nikkei Dec futures closed 7620 -- I don't know where those Bloomberg numbers are from... must be bad data over w/e

His puts are under water big time. It doesn't matter really. Buffett knows, in the worst case, the govt will bail him out, no problem. So why not sell puts till the cows come home, right?...prime example of moral hazard at play.

Yes that would be nice. But these sure are written by the company Berkshire -- not the person Buffett.

Has it occured to you that you need to think a bit more about writing options before your smartass reply? Does anyone know when these were written -- what market level and vol level? Even though these are European and very long dated, still given the vol explosion, these vols also have to be...

Is TF trading? If so sell some. (it is Russell 2000). It may be too late though.

gartley222: Just came across your journal while searching CAD. I am trying to determine whether it is time for the CAD to reverse and go higher against the USD (short-term bounce, perhaps?) Have you looked at it current after the move below 0.79 today? Best in your trading.

Any ideas why ZB is thin?

Shit like this happens .. you just have to pay extra attention to details. I usually use OCO orders and also hit the "Cancel All" button whenever I leave (w/o positions) or I know there shouldn't be any orders. Your main objective now is to get out w/o further losses. Log in for Sunday...

I traded the old ER2 for at least for 3 years (from 2005 I think.) Tried trading outright posiions in TF since the move to ICE. I'm glad for those who find the new TF contract working and my best to them. In my experience, the new TF contract: SUCKS... BIG TIME. Spreads and depth...

LOL...one w/ the true HD motto: You Can Do It. We Can Help. Hit our 25.50 bid... LOL

Market would be here even if the Bailout was passed -- it just would have taken a couple of weeks after the initial enthusiasm and rally. Now at least it didn't eat the $700B. Market will deal with it. The sky is still up there.

When Govts try to prop up markets, there usually are opportunities to profit. They most certainly will overpay for these MBS (I don't see anyone else lining up to buy these, right?) but how can someone profit from this action? I can't think of a direct trade except the consequential trades...

Do you mean just go long Gold? Might work longer term but immediately after Bailout Gold probably sell off as the panic recedes a bit.

Whether we personally agree with the bailout or not, it doesn't matter for this thread. (There are many other threads which discuss "how to" solutions to the so called crisis and pros/cons etc in the Economics forum. ) Let's try to keep this thread to trading ideas (markets, positions based...

Yeah the current trend in the US doesn't bode well for free markets. If this tax is passed, it will increase TC for short term traders fro sure. The short sale ban took away some liquidity out of the markets. And if this goes through, further erosion -- I will be looking into trading the...

That's interesting. May be there were traders trying to arb between the two exchanges when they were trading concurrently (I contemplated the idea when I was wide bid/offer spreads on ICE.) Also I used to trade the ES/ER2 spread and now it doesn't make sense to do it even if there were...

Good point. I believe this to be true also. Trader B seem to have capped the upside and believes his/her risk management is sound and also believes he/she has a formula to systematically take money out of the markets. What happens to such systems? Anyway, I believe Trader A is the one to bet...

Buy the rumor. Sell the news.

Yes, Banning short selling will not be the signal of a bottom. After shorts are forced to cover, watch the market for these financials. Without shorts bidding to cover, these stocks can just dribble down day after day -- Chinese water torture for the longs of these stocks.

Little off topic... Now it seems for a ES vs RUT spread, margin is the total of ES margin + RUT margin. When both were at CME, margin for the spread was significantly lower as they used SPAN. So "SPAN" only applies if both legs are within the same exchange? This really sucks for ES/RUT...