ajtj99's Market Pulse

[jdaasoc]

It seems Wall street has long memory and finally got back at BSC for not helping out with LTCM in 97.

I have BSC 8% bonds expiring in 2018 have only lost a few points below par so BSC must have plenty of assets otherwise these bonds would have tanked today.

It seems from what I have heard is no one on the street will play marbles with them and accept any of their assets so they were left with not many other options.

They have to consider selling out.

It gets wackier out there every day.


My BSC trades

SOld APR 45 calls this morning for $7.1; later in the day sold short PUTs APR 25 for $5.

So I am NET
long at $13 and short $57 until APR expiry.

Every day one has to go out there and box with the market very hard not to get bloodied badly.