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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Haim R. Branisteanu who wrote (6429)1/29/2004 5:42:19 PM
From: mishedlo  Read Replies (1) of 110194
 
mish how are your position today ? did you got hurt?

I was out all day and just got back.
Of course I got hurt today and yesterday. Probably far more today than yesterday.

The short puts on the Eurodollar that I have are still so far out of the money and I am way way ahead on most of them, and possibly close to break even on the last set of short puts.

I got hurt far worse I am sure on Euribor calls as I really loaded up on them. However, those postions will eventually win as long as Europe does not hike. I am sure thay will not hike. In fact I am reasonably sure the FED is not going to hike either. I added to both Eurodollar and Euribor plays today. I will be very quick to take profits on todays adds. I europe cuts, and I think they still could (if their recover slows as I suspect it will), I will rake it in.

Not exactly a pleasant day for me, but I think people are truly nuts if they think huge hikes are coming out of a change from "considerable period" to "patient". Look at the reaction in the stock market today. If the stock market and housing start to roll you have to be an idiot to think Greenspan will hike into that unless and until jobs recover.

M
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