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>
> Ed Hanley -
>
> At 09:03 AM 9/5/97 -0700, you wrote:
> >I just got stopped out of my short position in the Dec
> >Tbond at 113.25, when my stop was at 113.10 this morning at 0732CDT.
>
Not to pretend to be a bond trader (I rarely if ever follow the market
at all although I work at the CBOT) but I recall hearing a story
floating around the grain floor from some people who clerk in the bonds
that at the price 113.15, Merrill Lynch had a resting stop order to buy
3,000 bond contracts which, when hit, provided some short-lived
propulsion to the market which subsequently turned down - costing about
$100,000 a tick if that was a new position. Ouch!
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