Coco - Omg!!

Discussion in 'Trading' started by Htrader, Dec 5, 2003.

  1. Htrader

    Htrader Guest

    Wild trading...had 2 million offered at 42 for a long time. I took 3000 at halted...we will see.
  2. Toonces


    I don't know how I did it, but I accidentally shorted instead of buying at around 42. I quickly reversed my position and now I'm long. I hope IB lets it trade immediately after the halt. They have a history of not allowing stocks to trade for several minutes after a halt is over.
  3. Htrader

    Htrader Guest

    I have never seen that many shares offered straight up on a stock. Institutions were slowly chipping away at it 20k-50k at a time...still took forever.

    I figure worse case scenario it drops another 10 points upon reopening if its just absolute horrible news.

    Otherwise, it would be just another minor article and it instantly recovers 5 points.

    Of course, I really wish I would have exited at 44 right before the halt.
  4. Htrader

    Htrader Guest

    For anyone who is long, watch the other educational stocks like EMDC, APOL, and CECO. If they PLUNGe for some reason it means the COCO news is out and its bad. Otherwise, its profits for all.


    It was an input error at one of the houses (Fly on the Wall and Trade the News).

    Whoever did it has to cover about 2 million shares short.
  6. 11:02 ET COCO follow-up : Hearing from one desk that there is nothing specific out there that would indicate a civil suit. But, now hearing from another desk the possibility of a trading error in the stock that sparked the sell-off, which then led to the creation of this rumor as investors looked for reason for decline. Hearing the trading order involved over 1 mln shares
  7. gimp570


    This ESI is tanking
  8. be prepared for them to bust this trade if it was an error.
  9. Htrader

    Htrader Guest

    if they BUST this i will be so pissed.

    Several million shares traded at the 40-44 level...
  10. Toonces


    Is this going to be another EMLX style halt????

    I wonder if a bunch of trades are going to be busted.
    #10     Dec 5, 2003