Kudos to MMs

FOMC minutes later today. Almost certainly nothing of consequence. Beware that any discussion that sounds like the bias is shifting in IRs will likely spiral SIFs 10 handles down. The expectation is free money forever.
 
Quote from nitro:

FOMC minutes later today. Almost certainly nothing of consequence. Beware that any discussion that sounds like the bias is shifting in IRs will likely spiral SIFs 10 handles down. The expectation is free money forever.
More...
Oh oh...
 
Shorts probing how much size there is to go by the buyer. If it looks like it is infinite, best to back off. If it looks like it drying up, wack bids.

It is possible that some of the bids left are gamma programs, but that will be decided soon enough.
 
Quote from nitro:

Amigoes,

If you are long, you have been warned. Odds of SIFs decent red by close 75%, imo.
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Uh,

That was wrong. Fortunately it only cost me a 1/4.
 
PPI is no surprise. That WMT is doing badly, and that more people are being laid off, well, this economy is a bigger disaster than people are willing to admit.

Imo the FOMC minutes yesterday is the first sign I have seen on paper that the FED is very close to changing the language on FOMC day. Given above news today, I don't see how they can raise IRs, but I have come to the conclusion that from here to 1% FFs makes zero difference to employment, but it may do more good than harm.

This small rally has been relatively expensive for the buyer. Almost no volume forcing prices higher. Expiration Friday tomorrow.
 
This goes down ten handles on the open. From there I don't know, but the key levels are 1092, 1082 and 1072. To the upside 1102 ish
 
Quote from nitro:

This goes down ten handles on the open. From there I don't know, but the key levels are 1092, 1082 and 1072. To the upside 1102 ish
More...
Wrong again.

This market has me confused. Nasdaq futures have been very strong in the face of bonds slowly tightening the noose. Whatever.
 
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