Pabst's Blue Ribbon Trades

[dhpar]

Quote from Pa(b)st Prime:

I'm probably being stubborn with these Bond shorts but they're a part of my life. Since December there's only been ONE night I can think of that I was flat Bonds.

since 2005 I am short all the time with various curve positions. I was long only for about 1 week and that around introduction of 30y bond in Feb06 .
Recently I lightened up but mainly because I go on holiday tomorrow and do not want to swallow employment report (which may not come as rosy as we got used to). It also helps sometimes to step back in order to get a better perspective (and better life). This is true especially when a particular position becomes almost a part of your body...
I will increase my shorts later (likely in June).

 

[Bernard111]

Quote from Pa(b)st Prime:

[...] It was ultimately a matter of wanting to add higher not cover higher. The Bond market though is stuck.

Did you add today after the Productivity & ULC plus jobless claims when the spike tested the Monday pre-ISM highs?

 

[Pa(b)st Prime]

Quote from Bernard111:

Did you add today after the Productivity & ULC plus jobless claims when the spike tested the Monday pre-ISM highs?

Sort of, lol.

I was 112.04 and 112.09 offered. Obviously unable. I offered the whole way down and didn't sell anything until they took out the o/n lows. (sold 2@22)

S 8.

Busy with grains right now. Nice day.....

 

[Bernard111]

Quote from Pa(b)st Prime:

Sort of, lol.

I was 112.04 and 112.09 offered.

Big seller order @ 112-04, I remember... they saw your lots and stopped the runup!

 

[Bernard111]

Quote from Pa(b)st Prime:



Busy with grains right now. Nice day.....

I do not follow grains; what's happened today?

 

[Pa(b)st Prime]

Quote from Bernard111:

I do not follow grains; what's happened today?

Grains were strong early in the session but faded into the close. Beans in fact finished a little lower on the day. My marks looked better at noon than at the close.

My scalping in grains was a scratch. I lost 5 cents on 2 beans late and it really pissed me off. Negated a nice 5 lot scalp I'd made in Corn early. Made 4 ticks (total) on ZB scalps. B 2-11, S 2-13. Also sold another ZB short at 111.13 so I'm back to S 9.

 

[Pa(b)st Prime]

In CT btw, I'm not going to give my 2 adds y-day much room. I like CT down here (a lot) but that means shit. The tape isn't painting a rosy picture and if yesterday wasn't the low then my money's going to look for something else to do.

 

[Pa(b)st Prime]

Bonds=Bitch. And not my bitch either but rather the flirtatious bitch down the hall who eyes you on occasion but then slams the door shut when you ask to borrow some sugar.

If bonds hadn't been so wickedly fast I would have ADDED NEAR THE LOWS. Fortunately I was more awestruck by the index move than Bonds or I would have gotten hammered.

As is I paid a lofty 111.21 for 5 bonds. I'm short 4. I bought another Cotton at I think 48.52 or 54. hard stop on 4 CT is 47.97. It's a thin market, go get me, lol.

Grains remain the same.

I've scalped EuroFx a couple of times today. I'm short 5 a few ticks lower @ 136.13. I can't believe what a crap trading market FX has become. And I thought Bonds sucked. They're like the Dax compared to EC........

 

[atticus]

Quote from Pa(b)st Prime:

Bonds=Bitch. And not my bitch either but rather the flirtatious bitch down the hall who eyes you on occasion but then slams the door shut when you're wielding an axe...

Net PnL so far?

 

[Pa(b)st Prime]

Quote from atticus:

Net PnL so far?

After commissions, which appear to be less than 2k (it would be a hassle totaling them and as we know gross commission totals are the last thing most firms provide) and including the bonds and cotton coming in, I'm up just under 16k.

At the end of the day all my profits are attributable to that July Corn long from 361.

Surprisingly I'm not down in Beans at all even though I lost $7750 on one friggin options trade and another 5k or so on other shit. What I didn't really know though was that I lost much more in Corn than I acknowledged on the break. And of course I'm down a cool 5 grand on those short 4.00 July calls although if I just look at it as some kind of a weird synthetic back spread fly with the 410's it's a really kick ass position.

It's kind of cool that when I was getting killed in long grains a few weeks back it was those Bond marks in the low 110's that kept me looking ok. But then as bonds rallied, grains did as well so whatever the Bond trade lost in equity the Corn and Beans added. (and them some of course)