The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (5312)	1/16/2004 6:19:12 PM
From: mishedlo	Read Replies (1) of 110194

Russ the beauty of eurodollars is that there is an implied target. There is NO implied target on gold or silver or oil or soybeans. On Eurodollars the implied target at expiry is the FF rate minus about 20 BPs. Thus on eurodollars COTs I think you are wasting your time looking at them for some kind of reasonable meaning. Yes.... If there is a good jobs report they may take a big hit. If they just dip out of BS profit taking, long liquidation or any other horsesh*t reason we will have a HUGE buying opportunity. In the meantime I am primarily short puts WAY OTM. Decay is eating away. Some puts I sold for 26 BPs I covered for 3. Most stuff I am a full 1 point or MORE short puts below the implied future rate. IF we dip I am adding. A meaningful dip here is a godsend to add more. I doubt we dip substantially. Mish

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