Unless you're buying me a yacht, I really don't have anywhere to go but starbux. Just here trying to help. This will be my last goog post. I got 25, stop at 100.
I remember on the watcher platform you could sell more than you own and bang you're short.......buy 100 shares and then go ahead and sell 1000 and bang you be shortsky 900...illegally ....they used to fine us 50 bones...
The bankers were smart to advise the google guys to cut the float way down, old style, small float+impossible to short legally=big rally. They come it at $120 to sell to the public, smart move CSFB.
Goog guys aren't stupid. Say you want to price a very large secondary at the best price to bail out, how do you do it??? You scare everyone and only give it to the most hard core fans. These are people who will not sell no matter what. The same idiots who held ENE to zero. Then you price a very small offering so that no one can get in once it goes up b/c no one is selling. Then you get all the hedges short and make them cover on your secondary of 50m shares at 150. That's how I'd do it folks. These insiders are much much smarter than me, so I'm sure they're 2 steps ahead of that.
Yep, a little bit this morning also. Normally I shy away from Naz, but had to jump in yesterday especilly the first hour.
The dozen or so hard core scalpers with whom I chat with online every day all got burned pretty bad. Most of them were long @ 102 and got out at 98 or 99 area.
Hmmm.. spreads were wide and jumping all over the place. Prints were going off in .50,.75 or more increments. I was sweating bullets managing my open longs but people were hitting my inflated offers left and right. I bailed with a nice profit and terrible headache after 2.5 hours trading.
I second your headache. Now I remember why I stopped trading naz and instead trade value stuff that sits in a 30c range each day. I feel like I just aged 20 years in the past 2 hours. My P/L Is on swinging in a 6 figure range in a 20 min spread. Just too much for me, and I'm a young guy. No wonder so many traders are big drinkers.