Grinding it out, day after day

so if you woulda sold the 1000 long position at say 18.98 on the way back up.........would you now be finding out that your unexpectedly SHORT 1000 shares of it because that trade was within the 60% range ????????:eek:
 
Quote from bigpig41:

so if you woulda sold the 1000 long position at say 18.98 on the way back up.........would you now be finding out that your unexpectedly SHORT 1000 shares of it because that trade was within the 60% range ????????:eek:
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fucked up aint it?
 
Quote from bigpig41:

so if you woulda sold the 1000 long position at say 18.98 on the way back up.........would you now be finding out that your unexpectedly SHORT 1000 shares of it because that trade was within the 60% range ????????:eek:
More...

Yup, Lescor is right. You kinda have to anticipate a bust, and therefore hold stuff until it gets corrected. experience counts.
 
Quote from lescor:

Yep, that's how it works. And why I'm long a lot of this stuff overnight.
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Can you clarify how that works?

If you had taken your $32K profit yesterday by the close and the trade was busted, your $32K profit is reversed AND you're now short @ 15.01, and $32K underwater?
 
Nod,

If someone bought a stock that was down 60% or more, that trade is busted. Not knowing that it would be busted, some traders sold to close out for a nice (supposed) profit. But now they learn that the buy was busted so they are net short at the figure they sold at. Buy and sell, the buy is busted so you are short.

The guys that have seen this happen before, just held their long, which was busted so now they are flat.
 
Yes ARNIE : so no-doji he would now find himself hugely underwater in a short position in the security when he thought he was flat..........the exchanges just busted some trades but not others.........they didn't "reverse" any trades........they didn't take his original buy at the very low price of 15.01 and say that now that trade was really a short

So he would be unexpectedly underwater in a short position the amount that is the difference between where he thought he was selling the long position at (18.98 in my above hypothetically described trade) and where it closed at......46 something

A huge ripoff ! seems like they should bust both trades for people that both bought low and then sold thinking they are flat with a profit
 
Well it was time for volatility to revert and blow out some of the complacency in the market, but it delivered a lot bigger than I expected. P/L every day this week was reflecting it, along with volume. M-F pl: +17, -23, +24, +100, +14 for $132,000 on the week on 1.5M shrs traded. Best week since March '09 and new equity highs.

I have not needed a weekend this bad in a while. Worked till 11:30 last night and going since 4:30 this morning. My back is wrecked.

Sick, sick action yesterday. My numbers are weak compared to what some guys pulled off. Now, straight to the beer fridge...
 
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