RMBS - did u see that?? wtf

Discussion in 'Stocks' started by GregoryG, Jan 4, 2010.

  1. GregoryG

    GregoryG

    jeeezzz.... what happened?
     
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  2. Some newbie's head at a hedge fund is gonna roll for that one. That was the most pathetic trading I have ever witnessed in a stock with no news.
     
  3. GregoryG

    GregoryG

    u think some guy just had a larger to sell and he just...did?
     
  4. oraclewizard77

    oraclewizard77 Moderator

    Judge stated he may replace himself on case, so yes there was news, it was just not reported as a pr. Its bad news, but if judge stays on, the stock price will recover.
     
  5. No I was watching the TOS and the level 2 as it happened. Some MM/ECN was crossing the market with huge shares to sell at 15.75 then one minute later the same MM/ECN was trying to buy huge share amounts back above 23. Pathetic doesn't begin to describe that scenario.
     
  6. oraclewizard77

    oraclewizard77 Moderator

    I sold the naked Jan 20 put since I would not mind adding to my position at $ 20/sh especially with trial starting soon.

     
  7. GregoryG

    GregoryG



    i got you - i missed that - i already cought it on way back up....

    they may try to break those trades?
     
  8. GregoryG

    GregoryG

    u think the trial is a good thing?
     
  9. According to Bloomberg, NASDAQ investigating possible erroneous trades in RMBS around 1:30 EST. Once again, the error was leaving some idiot in charge of trading while the other traders at the fund were out to lunch.
     
  10. There is a rumor all over the street that there was going to be a change in venue and judge in the trial. It's trading on that.

    They already busted some of our longs from this morning.
     
    #10     Jan 4, 2010