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SpreadTraders Bulldozed


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#1 wndysrf

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Posted 07 May 2004 - 03:29 PM

One day, the "As Good As It Gets" interest rate environment had to come to a close.

Today was the day.

Spreadtraders were crushed and rolled by a bulldozer, as spreads were blowing out, Emerging Market Exotica were falling off a cliff, and Junk Bonds were in full collapse mode.

As usual, Stocks are always the last "to get it".

Until today.

Now we get to see all the White Shoes start to get some sweat on their foreheads.

Any Hamptons outings this spring???

Looking for many of the high rent reservations to get cancelled.

The Russian Escorts will have to pile into a Cadillac and head down to Myrtle Beach.

Good Riddance to the Leveraged Carry Trade Crowd.
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Posted 07 May 2004 - 03:44 PM

I have a few thoughts after watching the action today:

Never react to the market when it has already moved.
Your risk/reward has already gone down considerably.
Many times the risk has become greater than the
reward. Never get greedy and never chase.

You need to be positioned before the fact or you don't
take the trade. The most important thing is to protect
your capital. Ask yourself how much you can lose
before pulling the trigger.

And if you were wrong when jumping in, never, I repeat
never switch and go long if you were short or short if
you were long just to get even. The odds are just as
likely that you are wrong again.

After an impulse wave you'll have some choppiness
until the market makes up its mind on which way the
next move will be. Watch the consolidation and plan
for the next move.

Never put a trade in if your heart is beating faster
than 60 beats per minute :)

When you act on emotions you don't act rationally. When
you act on emotions you are the herd. Sheep get slaughtered.
You need to be coldly calculated to survive in the market.

#3 wndysrf

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Posted 07 May 2004 - 04:07 PM

Home Bubbler's Index.

The End of an Era.

Real Estate is toast.

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#4 Ags Nightmare

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Posted 07 May 2004 - 04:10 PM

Spreadtraders were crushed and rolled by a bulldozer, as spreads were blowing out, Emerging Market Exotica were falling off a cliff, and Junk Bonds were in full collapse mode.


Wndy...you know those beads of sweat trader pictures they show on Reuters after days like this....

Well here is my Zoo Animal version...

"Frustrated bond trader Louie Marinaro watches the close of 10 year treasury bond contract on the floor of the exhange while anxiously awaiting for some sign from the Fed that interest rates will stablize"

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Ag
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#5 Sudaca

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Posted 07 May 2004 - 04:20 PM

"Krispy Kreme got hit because of the Low-Carb Diet Craze"

Of course, no mention at all about the "High-Multiple Stock Craze" that got it up there in the first place ... :lol:

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Thanks, David

#6 longOnUranus

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Posted 07 May 2004 - 04:20 PM

The Russian Escorts will have to pile into a Cadillac and head down to Myrtle Beach.

I have my own personal visual of this, and I can't type because I'm laughing so hard... :D :D :D :D

bounce or crash...puts yo money on da table and take yo chances

#7 wndysrf

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Posted 07 May 2004 - 04:21 PM

Corporate High Yield Fund

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#8 Bearman

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Posted 07 May 2004 - 04:22 PM

711 new lows on nyse

a sign of 911?

1094.50 low tic close

#9 Jimi

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Posted 07 May 2004 - 04:22 PM

Great choice, Ags!

Doubles as road kill!

:lol: :lol:
Sure glad all my albums went GOLD.
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Guess again, girlfriend.
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#10 Lock Limit Down

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Posted 07 May 2004 - 04:25 PM

You guys see the runoff?
They knocked it down for another 3 spoos.
Still a puny decline today with regards to the internals.
Huge damage these last 4 weeks and noone has a clue...
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#11 wndysrf

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Posted 07 May 2004 - 04:31 PM

Putnam High Yield Trust

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Posted 07 May 2004 - 04:40 PM

Former SF Bay Area tech workers went to real estate when they lost their tech jobs. If rates continue to rise and the RE market falls down, what will they do next? They guys who buy a new Ford F-350 and then slap a magnetic contracting company sign on the side are going to be screwed too. Starbucks and Home depot have plenty of locations and employees, they can't hire many more.

Right now there is no Next Big Thing in silicon valley. The tech companies are focusing on protecting the stock options racket from the FASB. I'll post something on that when I get home tonight, employees where I work are being lobbied by the CEO to write the FASB and beg that options not be required to be expensed. Form letters have been written and distributed to employees even.

I fear that carnage round II is approaching. If more people leave town, maybe my rent will go down another 20%. :lol:

#13 wndysrf

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Posted 07 May 2004 - 04:42 PM

REIT Index

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#14 Calculus

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Posted 07 May 2004 - 04:44 PM

"The management of al Qaeda knows as much about the mechanism of markets as I do and few if any know more about market mechanisms than me."

You've got to love good ol' Jim Sinclair

www.jsmineset.com

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Posted 07 May 2004 - 04:50 PM

"The management of al Qaeda knows as much about the mechanism of markets as I do and few if any know more about market mechanisms than me."

You've got to love good ol' Jim Sinclair

www.jsmineset.com

Oh... his website is still up ??? :lol:





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