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I've been following Borsellino since he joined the TradingMarkets site
several months ago. His calls get one's attention. For example, yesterday
at 11:45 Eastern he posted:
"Now that I am off my soapbox, I'll give you my forecast for the rest of the
session. Watch for a final-hour rally in both the NDZ and the SPZ. If this
fails to occur, the SPZ should trade towards the 1280 level over the next
couple of sessions. If the SPZ can get above the 1375 level today, go with
it and look for the session highs to be taken out."
I don't know if he makes any money but many of his calls are great. His
free webdsite is www.teachtrade.com.
----- Original Message -----
From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
To: <KIMBOLEGSA@xxxxxxx>; <gm@xxxxxxxxxxxxx>
Cc: "Omega-list" <omega-list@xxxxxxxxxx>
Sent: Thursday, October 26, 2000 11:16 PM
Subject: RE: Limit Down Bounce
> 1) where exactly did that story originate...a book, an article, an
interview
> ?
>
> 2) does anyone know what Borsellino makes annually ?
>
> > -----Original Message-----
> > From: KIMBOLEGSA@xxxxxxx [mailto:KIMBOLEGSA@xxxxxxx]
> > Sent: Thursday, October 26, 2000 8:55 PM
> > To: gm@xxxxxxxxxxxxx
> > Cc: Omega-list
> > Subject: Re: Limit Down Bounce
> >
> >
> > In a message dated 10/26/2000 11:02:44 AM Central Daylight Time,
> > gm@xxxxxxxxxxxxx writes:
> >
> > << Now, having written that, I'm ready for anyone's war story
> > that proves me
> > wrong - how a trader made a million $ in a couple of minutes in a limit
> > market.
> > >>
> >
> > Gerald,
> >
> > There were no limits in 1987 but I believe Lewis Borsellino did
> > achieve the
> > feat you describe in less than 1 minute. The words that follow
> > are his - not
> > mine:
> >
> > "I've told this story dozens of time, but the memory has never
> > ceased to have
> > an impact on me. I was out of the country on Black Monday of the Crash
of
> > 1987. In fact, I wasn't able to get back to the trading pit until
Tuesday
> > afternoon (even though I flew standby on the Concorde). I made
six-figure
> > profits on Tuesday afternoon and Wednesday. But that all paled in
> > comparison
> > to what happened on Thursday.
> >
> > Before trading began, the pit was tense. The brokers, I noticed, were
> > especially nervous. Having been a broker in my early days, I
> > could read their
> > body language clearly. They were acting as if they had a large
> > order to fill.
> > Just before the bell rings, brokers start to make their offers. A broker
> > offered to sell S&Ps 4.00 points lower. (In the pit we'd think of
> > that as 400
> > points lower.) Then another broker, this time from Shearson, said he was
> > 10.00 lower. (Remember this was 1987, and we didn't have any
> > limits to act as
> > brakes on a sharply falling market.) This was unbelievable, I
> > thought! Within
> > seconds we were already 10.00 points down. As a local, I wondered
> > just how
> > far down this market would go.
> >
> > "I'm 20.00 lower," I yelled out.
> >
> > A Shearson broker was lower still - 30.00 points lower. I said I
> > was 40.00
> > points lower. The Shearson broker shot back that he was 50.00 lower.
> >
> > S&Ps opened 56.00 points lower. In the midst of this freefall, I
> > knew it had
> > to be the bottom. I turned buyer. I bought 150 contracts from a
> > broker behind
> > me and sold them two seconds later for 20.00 points higher. I
> > walked out of
> > the pit with a $1.3 million profit made in less than a minute. I
> > went into
> > the bathroom and threw up. As much as I had made on that one
> > trade, I could
> > have lost if the market had turned against me."
> >
> > Rgds,
> >
> > Kim
> >
> >
>
>
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