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Hello David,
there was allot of talk that day about how would you ever know what
was going to happen. i posted a pic of what would years latter be know
as a system named oddball. anyone can go back in time and see the
uncanny ability it has (to have been lucky?)to be on the right side of
the market. i was scoffed at by one guy in particular who just
couldn't accept the fact that the price action leads the news.
just think someone knows the news before it happens, most all the
time. the sept. 11 event caught oddball off guard. but i know of a
guy who was watching tv reports live when the second airplane hit the
second building. he looked at the bond prices and they had not moved
he immediately bought the bonds and seconds latter they took off like
a rocket. rare events indeed - but typically the insiders know ahead
of time and position themselves to profit.
they, the governing bodies can claim to the public that this does not
happen all they want. i witnessed a bond option trade once where our
short call position closed 7 ticks out of the money on friday.
saturday when they settled the options at noon (of course when you
can't do anything about it since the market is closed) we found out
that someone paid 7 ticks to buy our 2000 bond calls. monday the
bonds opened up well over two points higher on a surprise announcement.
m
DF> List,
DF> Does anyone remember that day a few years ago when the Fed made a surprise
DF> announcement about a rate cut and there was this huge price spike, like 50
DF> SnP points in 5 minutes or something like that?
DF> Does anyone remember what day that was?
DF> David
DF> PS. I'd be curious to hear any war stories about how that particular event
DF> was handled if you were in the market at the time. It's really that kind of
DF> thing that I find scariest of all -- a time when stops don't mean sh*t
DF> because no one in their right mind would take the other side of your
DF> trade...
--
Have a Great Day, Mark
http://www.markbrown.com
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