X......

WTF???

I went short...to my surprise it dropped off the face of the planet.

i doubled up on the way down and bounced...what caused that crazy movement?

 

somebody UNLOADED on it...they needed/wanted to get out quick.

 

They're selling sub-prime mortgages in addition to steel.

 

You should switch to NUE. They only sell Alt A mortgages in addition to steel.

 

X up 8% today on no news that I can see? Takeover?

 

Rumor - Thyssen-Krupp may buy X and Sevestal Steel and dump the subprime mortagage assets.

 

Yeah, "leaked" rumor from a bank employee.

It's very likely complete bullsh*t, as run ups like this prior to any real buyout announcement would completely ruin the deal. Someone just wanted to get out of a position or manipulate a move.

 

Anyone short at 125 or bought puts? I don't know whether this or AAPL is more likely to plummet at the 125 level...

 

Nice call.

 

Thanks, I think it has more to give. Should be a nice down day for the DOW today(at least in the first half hour of trading)

For the record, I thought AAPL was a good short at 100 and would be down a shitload on that( but would of been out before earnings). I say a close of 119 today and 115 on X