I filed with Finra and the S.E.C. during the halt. One person making this decision to or not to break is a joke. A false story erasing billions in equity goes to the heart of the integrity of the market. The person who made the decision should be investigated
You and I **know** that this was NO ACCIDENT. This was a carefully concocted plan by a few individuals. These individuals may have been short/long the stock or might have even purchased puts right before. Many persons will be lead to believe that this was just a glitch, but it wasnt. Someone made hundreds of thousands or even millions off of this "glitch".
Select airlines ticking higher with crude lower and strength in dollar: LCC +6.1%, DAL +5.2%, AMR +4.1%, UAUA +2.6%... As a dedicated hurricane watcher, esp. when it's aimed at my porch, it was Sat / Sun when the storm dipped to the south, missing most rigs. Read the LATimes article. When did this happen? Sunday. Somebody was stuck in a trade. Why lose 200 grand when you can make 20 million? Oh, it may be a mistake. And we may avoid a recession. But I doubt both.
If you take the literal definition of that then anytime a stock goes up or down acouple points it should be broken. "is substantially inconsistent with the current and recent historical trading pattern of the security. " Key word is CURRENT. so if if uaua goes down from $12 to $3.50 in acouple minutes and i buy or sell $3.25 that trade should not be broken.
You guys are crazy. do people here really have an issue that stocks are actually moving? we make money on volitility so stock movement is good. It was a fluke this happened and is VERY rare. Bloomberg has thousands of press releases a day, once and awhile there will be a mess up. A mistake was made by someone and it should be looked into. btw i never saw it on bloomberg and even when the stock was moving down i never saw the release on bloomberg via "UAUA equity CN" The price action was so crazy you have to be a pro to even go near it. And if you are a pro you know the risks The only 2 issues i have is that the stock got halted and people who where short did not get a chance to cover. and poor mom and pop got stopped out of UAUA at $4. For the rest of you, you knew what you where getting into
So, if you were a farmer, you'd just go out in the fall and harvest what comes naturally? And if you got what you wanted to eat, that'd be ok with you? But if it didn't, then whose fault would it be. I can't instill anyone with ethics. That is something human beings grow into. Some never achieve any moral standards. We call them 'inmates'. But others see things differently . They see a common good as a higher standard. Think about what you've seen in the last two years. Auction rate securities, CDOs, insider trading, failures, naked shorting, small fines for big crimes, thousands of Wall St.'s out of work, NY having huge reductions in tax revenues, consequences of which you haven't yet seen. So, we should just sit around? We have enough eyes on these boards, enough people who depend on this ocean of markets to harvest a living, that I believe enough will step forward and help save something that has important to Capitalism. It's certainly been part of my life a long time, I enjoy it. And I take great offense at those that misuse it.
Does anyone remember COCO in 2002ish; was that a faulty news type deal? They halted it after it went down a bunch, and it recovered after the halt just like EMLX (in 2000) and UAUA. But I can't remember why it went down so much. They ended up busting the trades that occurred while it was going down. (A couple of hours after it resumed trading.)