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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (2745)	11/18/1998 12:18:00 AM
From: Nandu	Respond to of 43080

condensed version of this report Sell JPM and CCI? I made a buck on CCI between 2:00 and 2:20. So I guess I can trade tomorrow.

To: AlienTech who wrote (2745)	11/18/1998 8:17:00 AM
From: tom pope	Read Replies (1) \| Respond to of 43080

Re Derivatives -- The writer seems to assume that the banks in question are not hedged - and I mean a true hedge - not the LTCM "we're hedged as long as traditional relationships between instruments hold up" type of pseudo-hedge. What I'm saying is that most banks make their derivative money by standing in the middle between counterparties and taking a cut, not making a bet on the direction of the underlying instrument(s). (I confess I don't understand the underlying transaction where the writer talks about exposure to a stock market correction. Is this part of a hedge, or a straight futures or similar position )