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<DIV>RT's</DIV>
<DIV> </DIV>
<DIV>Today after I came home from the pharmacy I discovered a couple of
envelopes from ZAP LFG futures in the mailbox. It was trade
confirmations. Not unusual, except my account there has been closed for
over a year and a half. And one paper was a trade cancellation so
everything's okay.</DIV>
<DIV> </DIV>
<DIV>But what I found interesting was the trade went like this:</DIV>
<DIV> </DIV>
<DIV>Buy 20 Mar 2000 S&P at 1446</DIV>
<DIV> </DIV>
<DIV>and</DIV>
<DIV> </DIV>
<DIV>Sell 20 June 2000 S&P at 1463</DIV>
<DIV> </DIV>
<DIV>I thought occasionally about a Spoo Spread like this, but figured they
pretty much moved in unison so never really investigated. Now <FONT
color=#000000>apparently </FONT>here is someone who thinks this can work.</DIV>
<DIV> </DIV>
<DIV>Anyone have any comments on this or ever put on a Spoo Spread??</DIV>
<DIV> </DIV>
<DIV>Happy Thanksgiving </DIV>
<DIV> </DIV>
<DIV>Bill N.</DIV>
<DIV>Milwaukee, WI USA</DIV></BODY></HTML>
</x-html>From ???@??? Thu Nov 25 17:04:35 1999
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Wed, 24 Nov 1999 23:09:13 -0600
Date: Wed, 24 Nov 1999 23:09:13 -0600
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
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Reply-To: Mark Brown <markbrown@xxxxxxxxxxxxx>
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Subject: [realtraders] True Confessions! {01}
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Status:
Hello RealTraders,
I pulled the most ignorant stunt today that I have ever pulled. I
currently trade through 5 brokerages while I'm planning to consolidate
all my trading to one brokerage by the end of the year. I currently
have to call 5 different places when I make a trade. I said this so I
could lamely put the blame on this exercise of juggling phones. The
real truth is I forgot my St. John's Wort this morning. Anyway,
looking at my short bond position I decided I would sell some puts to
cover. Realizing that I was in Dec. Bonds, I got the bright idea I
would roll into Mar. Bonds early so I could sell the Jan. puts.
This is when the trouble started. Let me explain I am always in the
market long or short never am I flat. I have traded through my brokers
for years so they know the drill. The extent of the used vocabulary to
my brokers is something like this. I call and say flip em roll em sell
the puts sell the calls (they always know I do em at the current month
and the closest strike price, that's the drill) Usually the
quantities, contract month, contract name, and even who I am (must be
the accent or the snarl in my voice) are not even mentioned.
With the exception of one NEW brokerage I have recently started
trading some contracts through this is the drill. So I called everyone
and just said roll em and hung up. Except for this one new brokerage.
I called knowing they didn't know me or my position and probably
didn't care either. So I'm on my on here I was thinking! I am short 26
Dec. bonds with this clearing firm and so I call and say get the
spread on Dec. - Mar. bonds, the price came back. I said do 52 at that
price and she did done. I hung up! I sat and thought what I had just
done. I called back and said I'm short an extra 26 Mar. Bonds, so buy
back 26 at market. She did and I hung up. Then I realized I was also
long 26 Dec. Bonds, and so I called back and said " BUY 26 DEC. BONDS
MARKET" she did and I hung up.
Now to keep you up with what I did or is your head also spinning out
of control too? I went short 26 Mar. Bonds more than I should have.
Went long 26 Dec. bonds more than I should have. Called up and went
long 26 more Dec. Bonds. So I got the extra 26 Mar. Bonds bought back
and that's when I called to buy yet another 26 Dec. Bonds that I
didn't need. During this whole time luckily the bonds are moving up
slightly to reward me for my stupidity I guess! Thanks I didn't need
any more grief.
Anyway after I hung up I realized I'm now long 52 Dec. Bonds and short
26 Mar. Bonds. So I hit the speed dial for what seems the hundredth
time in the past 10 minutes. The pit answers again, by now they know
me (still can't figure out what's funny about my name Mark, cause
their laughing while I'm on the phone) and call me by my name. Yes
Mark what now? I need to sell 52 Dec. Bonds I blurt out in a frantic
voice (really thinking hey I'm making money on this blunder maybe I
should let er ride!) loud enough to drown out the laughing I hear in
the background. Done she tells me, good have a nice Turkey Day I say
and hang up.
Guess what? I forgot to sell the stinking Puts that had instigated
this whole ordeal. So I call yet one more time, Yes mark she says (you
idiot probably) how can I help you? (( I was thinking shoot me please!
) I muster up the courage to say sell me 26 Jan. Puts please, done and
I'm done.
What a day, Mark --
.oİş°¨¨°şİ[ WWW.MARKBROWN.COM ]İş°¨¨°şİo.
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