Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (4925)	1/28/2000 5:27:00 PM
From: Defrocked	Read Replies (2) \| Respond to of 42523

Yeah, I covered several times over the last sessions,taking some in and giving some back. :^( I'll be looking to short notes and bonds if stocks/bonds rally after an FOMC decision to raise by only 25bps. Today was a very interesting day for SPoo trading. :^) Things slowed down for me toward the end of the session, and being Friday I had a opportunity to surf SI. Message 12714064 Message 12714406 I did notice that Pietra didn't have time to post today on his Millenium thread. FWIW, I am short SPoos position going into Monday. Technically and fundamentally equities suck. And with the Fed boxed in, portfolio managers who follow the dictum, "Don't fight the Fed" have to begin reversing. BTW, not many people realize how close the NDX futures were to chaos Jan. 6 when the futures dropped 170 pts or so after losing around 300 pts the prior two days. THE PIT STOPPED TOUCHING PAPER at one point and refused to take customer orders. Runners were being turned away from the steps since some clerks wouldn't even look at them. Bid/asked spreads were 10 pts. That's a $1000. I haven't seen such illiquidity since '87 in the SPoo pit. And what's particularly bothersome is that the lack of hedging in one market, say NDX100s, can spill over into SPoos. After all, when hedgers gotta hedge they'll use what works. Take today for instance: with a drop similar to that of Jan.6th, only 1700 contracts traded, indicating that much of the hedging moved to the SPoo pit. Keep in mind there are far less inventory holders now than in '87. Many trading firms are gone. The remainder severely limit the amount of over-priced junk which the daytraders are exchanging with one another. Now illiquidity cuts both ways, down and up, as many of us of the bearish persuasion know only too well. But the next few weeks promise to be very, very interesting, especially if the Fed continues to waffle. BWDIK.