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Politics : Idea Of The Day
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To: Tom Trader who wrote (13724)11/8/1997 5:40:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
TT- Somebody is paying for cumulatively for nearly thousands of put options contracts just sold and covered during last three weeks on the short side- this is what I call bleeding and yesterday was the worst day- someone needs to pay for these voltalities someone paid twice once in the morning and once later in the afternoon for the puts I sold and covered- I think when I write about 'bleeding' I write what I see in the markets- I hope you now understand what I mean by what I say shorts are being bled to death- e.g. yesterday on opening we rebounded from 917 in futures pit- there were lot of orders which were executed as people shorted below 920 they took the market back upto highs of 934 stopping out most of the shorts above 932 was a point where lot of longs were triggered but they brought it back down to stop out longs below 928 and to trigger further shorts at 916.5 within 30 seconds the rout was complete and closed the market at 930- every thing else in the session in btw is forgetten as noise- the tombstone is open and close in between who suffered the most - the traders who wanted to short the market below 920- not once twice- for me my 20 contracts in morning and 20 in the eveing tells me the whole story someone paid for yesterday's follies- it was not the longs the people who paid me twice or to Nemer were shorts and in my opinion they were bled to death by the markets. Thanks for your comprehension.
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