Grasso warns, reassures...

Discussion in 'Trading' started by chasinfla, Jul 21, 2002.

  1. im only half kidding about conspiracy theories...either that or it's mass insanity, a major confluence of blunders...

    the tip off, I think, is the spin these stories are getting. It's as if the media get some perverse pleasure from kicking the market and the investor when he's down.

    Hey, didn't Don Henley say that very thing?
    #11     Jul 21, 2002
  2. m22au


    I'm not sure if it will hurt them eventually, but JPM has a lot of derivatives on its books, and is very short gold. Can't remember where I read the derivatives stuff, but Thom Calandra of CBS MW has written extensively about JPM and other banks being very short on gold.
    #12     Jul 21, 2002
  3. #13     Jul 21, 2002
  4. Just a reminder for all to remove their 'mkt order' keys from their keyboards; and to use only limit orders so we don't have terrible fill stories to tell tomorrow eve.

    It is going to be a rough day even if you have the trend right; because MM & specialists will be stepping away from this volatility to preserve their firm's capital. In fact don't necessarily believe your real time quotes, there will be some major league lags tomorrow.
    #14     Jul 21, 2002
  5. thanks for the reminder.
    #15     Jul 21, 2002
  6. im not worried about fills, MM steping away, etc. They are always like that in the options market.....hell the bust trades all the time.

    You gota be in it to win it.....
    #16     Jul 21, 2002
  7. yeah, options fills can be outrageous during crisis markets.
    #17     Jul 21, 2002
  8. Seanote

    Seanote Guest

    MMs and Specialists must always maintain a bid/offer for any stock they make a market in but they will be posting less shares than usual which fuels volatility. For those of you that trade large blocks you will notice how much more difficult it will be filling your entire order.
    #18     Jul 21, 2002
  9. Did Grasso say why he came out and said what he said?

    What indication is he getting that Monday will be that bad at all besides the fact that Friday was a crummy Friday.

    Worldcom files for Bancruptcy? Gee, that was a surprise, stock went from $60 to 6 cents. I'm sure a lot of people are completely shocked at this point that WCOM is filing for bankruptcy.
    #19     Jul 21, 2002
  10. I wondered he getting indications of sells, or just going by experience? Welp, we'll probably never be any closer to the truth than an educated guess on that one.

    hmmm. I see the dow fut's took out Friday's low.
    #20     Jul 22, 2002