A friend of my father from the CBOE once told the story that in the 80s the bonds were the big game, and the SP was like the little tail of the dog. In those days they had a squawk box to the bond pit and another to the SP pit. Let's say the bonds were 03-04, and a big bid came in, and started paying 04, and then 04 bid, more often than not the SP would jump 4-5 tics, in those days the prices were about 200.00 for the SP and the tic size 0.05. Marty Schwartz once spoke of this, and I believe he was good friends with Weinstein and Marty Zweig, same synagogue. Schwartz and Zweig lived in the same building in NY. Schwartz used it only to time his low risk entries for other methods, but Weinstein basically operated like a pit trader from outside the pit. I don't know anything about their longer timeframe speculation methods, other than what Schwartz wrote in Pit Bull, except that they used the bread and butter just described to fund the other things. In those days the OEX options were the biggest index market in the world, and I believe those OEX trades were Weinstein's specialty.
