New Century Financial Corp NEWC:OTC 3.04 Arrow Up 1.69 125.19% 19,332,348 Last Trade as of 12:01 PM ET 3/16/07 Up 125% today. I'd hate to be the last one standing when the music stops. Look at all the insider-tipped mofo trading probably happening with this. They probably know exactly when the BANKRUPTCY petition will be filed, down to the minute.
HaHa agreed, standing alone on the dance floor peering into a bag that's ticking--the only thing you have time to say is "nuts."
most just short covering plus traders like me pushing, like shooting fish in a barrel with this sucker, kinda sucks that NEWCP and NEWCO didn't follow again today
i just sold 2.85 ...i ran this puppy from .80...but very small ...too bad..i bought very little of this and sold lend for a freaken small lose at 5.56 ...but i agree when the music stops its gonna hurt..the thing i dont know is...when it went from NYSE to OTCBB it became unshortable. ( I am not sure ) ..in this arena market markers have more leeway to step away from their quotes or not reflect correctly making the swings that much more voilent...there is no news but perhaps somebody knows something is going to happen in the horizon
maybe some..but the majority would not be available to be borrowed...and perhaps if you lived in Canada where they short anything and their mothers to death...
I am sure it is the options market makers trying to pin the stock at 2.50 (which makes the Mar 2.50 calls and puts worthless).