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Thanks for that rundown. But just so I'm clear and for my own edification....LB can't file a RICO case against GS, right? That power is resevred for the State in Criminal cases only, right?

I'm no Lawyer but I thought the RICO statues are a prosecution tool the State uses in criminal cases. LB v GS is certainly a civil matter and neither of them carry the prosecution power of the State. Got a link to this story?

Find a broker that will take your cash. Can't imagine that would be too difficult. (rolls eyes)

I think the quote is: "The market can remain irrational longer than you can remain solvent." --Lord J. M. Keynes-- PS: that being said ....... I'm adding negative delta in here (after bailing ((rolling)) some too)

Just like with any http://en.wikipedia.org/wiki/Shyster ... you go straight to the NFA http://www.nfa.futures.org/

Yesterday morning that spread looked as fugly as it gets. It had VERY significant M-t-M loss. But alls well that end well, I suppose. Nice hold OC.

Rock on risk! Looks like the beginning of a great Journal

In 2001 the SPX settlement deviated from the closing price as much as 40 pts. The mid-90's was pretty wild too. Admittedly Vol was higher then....but it can get nutty.

yep

With all the weirdness and anomalies of SPX and NDX settlement I don't think I'd wait until settlement to take my spanking. Last months NDX settlement is one to study. But everyone has their own personal risk/reward profile.

:p

Think or Swim has one. Knoppix 3.8 Live Linux

Dear Short One (5'7" rolls eyes) As has been suggested.....and my thoughts to go..... 1) Reduce size until the money is no object. 2) Do the right thing and the money will follow (easy to say tough to do). and finally the "Traders Paradox" which is a variation and compliment on rule...

Hey PTR, It was tough watching it go through 1175.....but I needed the long deltas too. My overall positions had gotten way outta whack. But overall it pays to buy when people freak. As an example just check out the last "MarketHankSurferJayGould" "Black Monday" thread from mid-April...

Thanks It was tough to step into the abyss .... especially at 2:30am. But it's been my learned experience through the years that the toughest trades to take are usually the right ones. My deepest condolences to all Londoners We're all Londoners today.

Anybody else do anything? I bought 'em and went back to bed (at 3:00am PST) :cool:

I bought some ES U5 at 1177 and 1178

Does that imply that all "seasoned” traders need VOL to survive?

I don't want to hijack OC's thread because it's a good one and I want to encourage it to continue. But I thought I would offer the following on the virtues of NDX and other multiple listed products verses the proprietary products like the SPX. First, I trade the SPX all the time and I do...

When trying to calculate a spread always use the total contract value(s) in conjunction with the net differences of each component of the spread. Then simple arithmetic