Potential lesson from AAPL blow up -When a widely owned stock by hedge funds breaks key support levels after being a momentum trade for a long time, its a good idea to CHASE the short and play the reverse momentum. I should have shorted it at some point, now it could be a little late unless it pulls a nice rally
OSG down 15% on no news(At least I can't find it). Stock looks like a insider trading ring. Lets of informed put buying and those sorts of things(Maybe that is the news?I read there was a put buy block yesterday or today)
http://finance.yahoo.com/news/bear-targets-overseas-shipholding-152644895.html Doesn't look like informed buying. Expiration is too far away, this dude doesn't know much. Currently I have no position on OSG. I do have orders ready to smash the stock if the news break(I will also short competitors as well)
I put a multi day short on this one after he posted. If any hedge or mutual fund try to liquidate after reading that report stock should drop nicely. Its quite illiquid and dominated by HFTs
OSG down 20% on no news, short sellers sitting on ask all day to short into uptick rule. Only thing I found is http://www.bloomberg.com/news/2012-11-08/an-honest-guy-on-wall-street.html?cmpid=yhoo.view And this tweet "LCD News ‏@lcdnews Block ($170-189M) of Overseas Shipholding $1.5B revolver changes hands, Milbank hired as counsel http://ow.ly/f6uki $OSG #shipping" The link requires some kind of subscription. It smells to me that someone was tipped about material facts here
I'm taking a small short here on OSG. Its just too weird, it smells like some one for tipped off about really bad news. I will cover on monday on no bk and might hold a little longer if there is bk
Have an account at Interactive brokers. At moment have very little long positions. Any ideas what to do with the cash? Was thinking about some bond funds, but not really my specialty.