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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (553)	6/12/2003 2:21:05 AM
From: Londo	Read Replies (2) \| Respond to of 666

I'm short ZB (at 121 22/32, when I sold and went short), but with a narrow stop to protect some pizza money if it rises much between now and the US market opening. Considering it went up 3 pips during the time I wrote this message, it'll be probable. Otherwise, I've got a low-ball order for some EUR at 1.163, but that's about it. Dim Wim can open his mouth about dropping rates, and the panic should be able to take it down a penny. I haven't been trading well lately, but at least I'm in a position where I can claim some capital. I'd want to get long on ZB eventually between now and the Fed rate cut, but I would want to be short ZB the day of the rate cut - I'll make you a small bet here that Greenspan drops a quarter point, not a half. It's all about the threat of making further rate drops, and not the actual rate drop itself. Greenspan has 5 bullets in his gun - he doesn't want to spend two of them in a couple weeks. The shock value should be good enough to slam the Euro and the bond a little. I think the real question on my mind, and the minds of many other people is: how high can the S&P go?