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JER3CUBE@xxxxxxx wrote:
>
> FOR WHAT IT IS WORTH......He didn't miss the bottom....He made
> the bottom in one day.
>
> He already had a loosing trade in the Thiland currency.....SO AS NOT TO
> REALIZE the shrinkage in the account.....He sold what look to be
> a rich premium in PUTS.....to support the loosing Thai currency postion.
>
> In retrospect.....He should have "taken the loss" in the currency.
> Any new postion should have been taken on its own merits.
>
> In essence he was already under water before he did the puts.
>
This is not true. He had large losses in July and early August in SE
Asia in his funds. He increased his bet in late Aug and made virtually
all the losses back by the first week of October. The dollar level of
his funds was down due to redemptions though.
>
> What is going to be interesting is the "unreported" cases that surface
> in the next few days/weeks/months. This looks to be just the tip
> of iceberg. Ths shot fired over the bow, so to speak.
>
Absolutely, futures are a zero sum game so for all that movement,
someone was on the wrong side!! Lots of dough changed hands, that's for
sure.
Eric
> All the best'
>
> GerryB/jer33:3
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