Euribor Flipper??

Sure - working spreads becomes a much harder task with the presence of someone who will often take one of your sides and the next couple of ticks in a few seconds. As bobltrade72 points out, spreaders are likely to decline in numbers.

Continuing with the evolution theme however, this is probably not too bad a thing for those who hang around. As the number of arbitrageurs diminish, the scope for attractive spreading should in theory re-emerge, and could become lucrative in spite of the Flipper. In fact, given that the Flipper (to my knowledge) does not take all spread related products on at the same time, someone who is ready to react to his large trades - or maybe an algorithm - can get into spreads at particularly attractive levels. I strongly believe that purely seeing the Flipper as hindrance to successful trading is wrong and defeatist.
I also think that the Flipper - however clever and smart he is - can be defeated at his own game. e.g. around Aug 2nd last year, it appeared he was forced into particularly painful stoplosses. Admittedly however, there are very few players with the size to take him on...

By the way, does anyone here trade cash bonds versus the strip?

I used to trade cash products against the strip but mainly short end stuff

what - sub one-year? Problem with all this euro stuff is that everything trades very tight to each other with low volatility, so that after you've paid repo bid-offer, you have very little chance of making any money.
I think there are some opportunities in the 2007/08 sector, but again it is largely a repo trade.

I guess it depends what you want to do. I was also trading repo (actually market making both repo and cash). As you say in a flat YC environment there is v little to be made out of any of this. It was mainly sub 1year (hence repo stuff as well) but occasionally longer.

I believe that is a group of guys, working with a set algorithm! We need to try and work it out??... for sum reason they are not using it on the Bund - US 10 year?? i havent worked out why yet! any1 got any ideas? i'm not a spread trader, but thinkin about trying it as there were massive differences between Bund and 10 year today (18/04/05) Any1 else got any ideas on this? i'v developed a few tricks which seem to work using the tick chart on CGQ... which seems to help with the queue flippin.. i wud like some views so just add me to msn.. i'm on most nites!

anyways gud luck everyone!

Oh My God guys is any1 trading the Bund today? its mad.... untradeable! Rotter and the boys are hard at work today :@

I don't want this to sound arrogant (or facecious) but when people put in big size in bund and nothing moves or trades, I always go back to the charts to try and work things out. I haven't been trading it today but my whenever its in a tight range (ie till 1:30) people will always screw with it, so I just try to trade extremities of market profile but being ready to reverse if it breaks out as it has now. It then closed the gap (worth a couple of ticks) but now has broken higher. I guess we have to watch to see if it tests previous high.

I know you know all of this but taking a step back helps me.