To: Narotham Reddy who wrote (19942 ) 9/4/1998 4:34:00 PM From: IQBAL LATIF Read Replies (1) | Respond to
HK I have heard may stop short trading in stocks or have some curbs the days of short selling and killing the currecnies may be over, we may have some kind of capital controls to minimise the impact of flight of capital from ASEA.. Brazil may any time decide to prune the speculative activity. Legitimate business transfers may be allowed but this world shaking movements of speculative capital may finally be over, bad news for hedge funds, I don't how people interpret all these speculative activity in a thin market, they wanted to run the stops came to 955 level never really broke through it shorted every one and within fifteen minutes were back up, I was with my broker and he told me get out of long puts i.e.930's which I had purchased for 9 at break of 972 level-- he was adamant we will reverse as soon I made my order my fill was at 15 although the one trading beofre me tradedat 16-- in few minutes this put was 12.. so this is in thin market manipulation, the real buying was a 10 billion plus order to purchase stock that turned the market, rest every thing else was noise, it will never appear anywhere what we will see is where did the DOW closed, although I was expecting that pits will do something unexpected in a thin volume I wanted it on the higherside they would have made more money but it was great to see a seond very pertinent test of lows the message is clear big buyers are ready to off load big money.. these wild moves are games and that is how you should take it if you are not in it.. TBR buy 45 put any number-- sell 35 puts twice the number that is your downside protection-- now if you want to purchase a 1000 shares buy 8 puts long sell 16 of the 35's should pay for your long puts-- this is one side-now turn around-
