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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: John Pitera who wrote (36178)10/12/1999 10:16:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
< Victor Neiderhoffer, the barefoot trading guru who wrote that book on trading wiped out his accounts on OCt 27th of 1997 doing something along those lines.>

As I recall, and it's been awhile, Neiderhoffer blew up in Thailand the previous trading day and tried to re-coup using SnP Contracts in the CME.

The story was, ....well, I can't remember the firm....but it was pretty open knowledge that Neiderhoffer was Buying as the market was sailing down.

The next day, aware that Nat Commodity or whoever it was had to cover, they ran it down further as the Clearing Broker had to cover by Selling into it.

When they finished covering Neiderhoffer's position the Market took off like a rocket.

Check the Intraday's, it's pretty obvious if you look at it with that in mind. Neiderhoffer was suing the CME, last I heard, late last Winter over the issue.

But my point was only that it was SnP's, not options, I'm positive.
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