Pabst's Blue Ribbon Trades

kinggyppo · Apr 3, 2007

Quote from Pa(b)st Prime:

I haven't traded yet today.

Open positions:

S 5 SK puts @ 20 cents

S 15 USM (ZB) 5-111.10 and 10-111.17

L 5 May Cotton and 2 July

I'm sticking with CT and the Bonds with wide stops. If Beans trade in the mid 780's I'll cover my puts.

I'm looking to be a very aggressive buyer of Corn basis 3.62 1/2
in May.

Where would you be looking to buy corn? Could you comment on this limit down business, is this an over reaction? Enjoying the thread.

Pa(b)st Prime · Apr 3, 2007

Quote from kinggyppo:

Where would you be looking to buy corn? Could you comment on this limit down business, is this an over reaction? Enjoying the thread.

I'm looking to buy July Corn just above 3.60. (I mistakenly said MAY earlier, sorry!!)

Funds were caught long corn into the report. They're being washed out of those positions.

I still believe Corn will be $6 sometime soon. All it takes is a weather related incident in the next 6 months.

Pa(b)st Prime · Apr 3, 2007

B 10 CN @362 1/4

B 5 CN @361 3/4

Pa(b)st Prime · Apr 3, 2007

B 5 CK 349 3/4

Stops: S 10 CN 358

Pa(b)st Prime · Apr 3, 2007

S 5 USM (ZB) 111.06 (short 20)

Pa(b)st Prime · Apr 3, 2007

Quote from Pa(b)st Prime:

B 5 CK 349 3/4

Stops: S 10 CN 358

Stopped out on 10 CN -$2125

JamesVU2000 · Apr 3, 2007

I'm short bonds. Its such a slow grinding move down. They never seem to get legs on the downside.

dhpar · Apr 3, 2007

short bonds is not very effective at these levels.
you should play it via short term (ZT/ZF) for the past few days.

some ideas here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=86414

Pa(b)st Prime · Apr 3, 2007

Quote from dhpar:

short bonds is not very effective at these levels.
you should play it via short term (ZT/ZF) for the past few days.

some ideas here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=86414

Thanks. I follow that thread with great interest. And NOT as a fade!! You guys have very good ideas there.

I'm agnostic on the curve although in retrospect I should've anticipated some reversal in the recent steepening.

dhpar · Apr 3, 2007

Quote from Pa(b)st Prime:

I still believe Corn will be $6 sometime soon. All it takes is a weather related incident in the next 6 months.

If you say so

I started to build "C N7" before the close - feels like trying to catch a falling knife...