First of all, it's stupid that they would let that much material unreleased information accumulate. Maybe Google needs to offer some email service to the Bureau of Labor Statistics.But I'm curious if anyone is familiar with who was selling at the early post-release lows on that second-take dive (as well as the early upspike in S&P's). I remember in March of 1996, Baldwin supposedly rode the thing 2 points in the wrong direction, before it hit the limit for the first time since 1987.Anybody hear of any option traders lives getting ruined? Anybody making reservations for the private suite at the steakhouse?MP

At some point rates will start rising again. Let's hope it is not soon because the carnage will make 1994 seem like a drop of spilled milk.

MP,All my positions were closed automatically at 8:29. I now wish they weren't closed... this time I was on the right side.

As I'm not on the trading side I haven't any war story related to that.... maybe you should ask some other one on my firm.. I posted a thread which is related to that on the Technical forum, and i pray you for a relpy!Thanks,Cactus

QuoteOriginally posted by: NMP,All my positions were closed automatically at 8:29. I now wish they weren't closed... this time I was on the right side.What do you mean automatically? How doe sthat work? Does a machine generate "but at market" requests for all of your holdings? Is that not extremely expensive?

in reality, I'm reasonably tall, but when it comes to the long bond...no complaints from this comrade

What do you mean automatically? How doe sthat work? Does a machine generate "but at market" requests for all of your holdings? Is that not extremely expensive? NJ-- Just run your prediction error through a simple single pole filter and threshold. Who said Martingales don't allow prediction ? (actually Martingaleshave nothing to do with prediction)

my general impression of fixed income traders is that they are almost always long of bonds . I used to think that this was just equity traders but it happens to be true on the other side too... which is an understandable strategy given what has happenned to bond prices over the last 10 years.. the problem is when u r at a turning point (or a putative turning point) then a lot of fixed income traders will lose money 'cos they are still wedded to their positions.

QuoteOriginally posted by: quadraturemy general impression of fixed income traders is that they are almost always long of bonds . I used to think that this was just equity traders but it happens to be true on the other side too... which is an understandable strategy given what has happenned to bond prices over the last 10 years.. the problem is when u r at a turning point (or a putative turning point) then a lot of fixed income traders will lose money 'cos they are still wedded to their positions.I think that this year, your impression is wrong. Just about everyone I know is short at the moment. Many people have therefore been squeezed badly during the rally. Most years long makes sense. The general perception is that this year is the exception.

QuoteOriginally posted by: NWhat do you mean automatically? How doe sthat work? Does a machine generate "but at market" requests for all of your holdings? Is that not extremely expensive? NJ-- Just run your prediction error through a simple single pole filter and threshold. Who said Martingales don't allow prediction ? (actually Martingaleshave nothing to do with prediction)Nope, you have totally lost me. Perhaps I did not put my question correctly. If your system closes you out "automatically", how does it do so? How does it actually execute trades? Does it generate automatic buy commands itself, or does it flash up a warning, and you have to go into the markets yourself?

I beg to disagree .. The violnece of Fridays move to me suggests that the bond traders are still long ... and wrong

QuoteOriginally posted by: quadratureI beg to disagree .. The violnece of Fridays move to me suggests that the bond traders are still long ... and wrongAs opposed to it being caused by the one remaining piece of weak data becoming strong?The people I speak to, sit with, and deal with are all short. I'd be cautious about reading too much into how fast a market moves. That way lies technical analysis.

I know u think u are the authority on what goes in hedge funds but I can categorically tell u that not every one is short the bonds ... and most bond traders dont know what a sell ticket is

Today's JPM Survey: 2 longs, 52 shorts.

what was it on friday ? the bunds are up today .. damn!!