"Livedoor stock opened Thursday at ask-only and fell by the maximum price drop allowed, for the third straight day, to 416 yen, the Nikkei reported. Only 190,000 transactions were made, leaving 289 million sell orders unfulfilled." http://www.marketwatch.com/news/sto...456-412A-B759-1A0BA03F6786}&siteid=mktw&dist= imagine looking at level 2 and only seeing the ask side
Hey Pal, Things aren't always as they seem. Livedoor is the Lee Harvey Oswald of the Jap Stock Market. It was a "Patsy", a diversion of what is actually going on over there. Something stinks like old Sushi placed under the seat of a rental car. Sure,they are by nature a panicky bunch, but c'mon ,some obscure small cap comes up 8 million short and they got Nips diving out of buildings. I haven't seen that many Moe Howard haircuts running for cover since those old World War 2 movies when one of our boys went into a cave with a flame thrower. . On a related subject, have any of you guys ever heard the way they close their Market at the end of the day. They count down 5-4-3-2-1 over the speaker and then someone hits the Gong. ...Rennick out
I was also wondering why a $6 stock (was under $5 most of its lifetime (traded below $3 at some points, now $2)) is making such loud noises. Anyone know what the most active list was over there on that day besides livedoor? Quote from Goldman "I want them to realize people would question why the market should be there, if the market can't trade stocks," he said. Goldman Sachs, meanwhile, advised Japan-focused investors to take advantage of a "Livedoor shock" and "buy the dip." http://www.forbes.com/2006/01/19/livedoor-nikkei-suicide-cx_gl_0119autofacescan07.html?partner=rss
This one is much deeper issue than you guys think. One executive was dead the day before yesterday. Probably, he was killed by Yakuza. Somehow, officially, the police suspects it's a suicide.
the more i read, the more it feels like a case of the old-school protecting their position; a 34-yr old hot-shot CEO is the perfect lamb for the media to slaughter. I wonder if there were any large short positions opened in the days leading up to the raid....
I don't deny such an aspect, but basically, this guy artificially pulled up the stock price. It's like WorldCom or Enlon. Fraud.
it is just like that enron vice-chairman that committed "suicide" in his car right before Congressional investigators could interview him.