Discussion in 'Trading' started by JamesJ, Oct 20, 2008.

  1. JamesJ


    why this low open?

    merger failed, but they buy back 50 mio at 9.20$ next week...

    looks like an easy arb for the big guys... why is it trading at these levels... 7.50 $ , open below 7$ (ok it went up big since open but still?).
    probably because you can't be sure you are able to sell your shares at 9.20$ because it's only 50 mio?
    however that's 1/3 of free float almost...

    i went long on that one, and sold half of it. looking for >8.2 to sell rest
  2. JamesJ


    you know what...
    i think they are right now buying back shares over the market...