SKF halted

Discussion in 'Trading' started by ElCubano, Sep 19, 2008.

  1. jprad

    jprad

    The whole situation sucks.

    With SKF off TradeStation's easy-to-borrow list for a few weeks I was figuring a good ride today based on short covering alone.
     
    #31     Sep 19, 2008
  2. dtan1e

    dtan1e

    won't this paralyze the derivatives market?
     
    #32     Sep 19, 2008
  3. Yep, and it will undoubtedly raise the cost of "hedging". These guys are morons.

    Total Morons.
     
    #33     Sep 19, 2008
  4. zdreg

    zdreg

    what are you looking at or is it that u just see a ridiculous quote.
     
    #34     Sep 19, 2008
  5. Acumen

    Acumen

    See that? CNBC announcement in around 30 minutes on SKF.
     
    #35     Sep 19, 2008
  6. The SKF folks use counter-parties with swaps in order to construct the SKF.

    These swaps just went WAY UP in price ( with the counter-party ) because of the inability to short the financials and this is what the freaking Govt. has no clue about.

    Why can't they just bring back the "uptick" rule???

    Absurd.
     
    #36     Sep 19, 2008
  7. yeah....and bring bullets back:D
     
    #37     Sep 19, 2008
  8. sprstpd

    sprstpd

    XLF not on the SEC list?
     
    #38     Sep 19, 2008
  9. You can still short XLF...
     
    #39     Sep 19, 2008
  10. Acumen

    Acumen

    Someone posted this on yahoo

    ProShares Announcement 09/19 11:25 AM

    BETHESDA, Md.--(BUSINESS WIRE)--
    Due to the emergency action announced by the Securities and Exchange Commission on September 18, 2008, temporarily prohibiting short sales of shares of certain financial companies, Short Financials ProShares (SEF) and UltraShort Financials ProShares (SKF) are not expected to accept orders from Authorized Participants to create shares until further notice. Unless notified otherwise, shares will be available for redemption by Authorized Participants as normal. The shares of these ProShares are expected to trade in the financial markets today, but may trade at prices that are not in line with their intraday indicative values.
    Source: ProShares
     
    #40     Sep 19, 2008