Hey all, looking for some of your experiences being in a halted stock intraday. I am looking to read about some of your insights, emotions and lessons from such an event. Thanks!
This is an easy one for me. March 8, 2000.....ECNC.OB has run up to $20.00. I had bought a boatload at .22( thats right, 22 cents) 3 months earlier and had been selling them off all the way up. I still had 6000 shares left and held them through the day and the next day too. Friday the trading was halted. Stock opened 2 weeks later at .56 which means I left 120K on the table. Lesson learned....greed is really expensive. I had made nearly 80K on that one stock which was just a fools luck. Should have dumped it all at 20.:eek:
This is slightly off request as this was just after-hours but the rest of the question applies. I was short a strangle on Google before the earnings. It was around 430 and I was short the 370-480 strangle because the premiums were insanely high. They came out over 20c short on their earnings. The stock was halted after a 2s 20-30 point drop. I read the earnings report 3 times before it sunk in how deep I was. It opened up down 80!! My heart stopped, lol. I've lived through their earnings before though so I just watched it go up waiting for my heart to start up again and praying the whole time. When it hit 375 I hedged it (smaller position) and went short just in case it dropped again. I ended up making 2k when I closed the position out at the open when it had made it's way back to around 390 or so, but if I hadn't hedged it would've been 8k That was definitely one of the biggest heart stoppers for me ever.