One for the ages: I owe Etrade $106k, ouch.

recession2016 · Nov 22, 2015

after his donations reached $5000 he vanished

that's shady

noddyboy · Nov 22, 2015

recession2016 said:
after his donations reached $5000 he vanished

that's shady

I think at different levels, the jail time for fraud increases, so it makes a lot of sense.

syswizard · Nov 23, 2015

noddyboy said:
I think at different levels, the jail time for fraud increases, so it makes a lot of sense.

There was no fraud here. He left because we were making those claims and he didn't want to bother with defending against those claims.

syswizard · Nov 23, 2015

Redneck said:
Whether he thoroughly understood the risks - who knows
Shit happens
RN

Of course, this reminds me of the time when I was naked short 3 little puts in the Nasdaq 100 index. I was "up" $2k and didn't close-out my position because I wanted to hold it till the end to squeeze out another $1k of premium.
What a bad idea.
2 weeks later, with 1 week left till expiration, the market tanked and it was a Friday.
My position was now -$3k.
At 5 minutes left in the session, I closed the position.
On Monday morning at the open the bid was 60 !!
That's the number the brokerage would have closed me out at.
Potential loss of $18k !!!
In this case, I avoided the "shit".

noddyboy · Nov 23, 2015

syswizard said:
There was no fraud here. He left because we were making those claims and he didn't want to bother with defending against those claims.

I didn't say there was definitely fraud, only that if there were, the severity depends on the amount defrauded. Maybe he did lose that amount, but if he didn't pay ET but filed for BK, it is also fraud.

noddyboy · Nov 23, 2015

syswizard said:
Of course, this reminds me of the time when I was naked short 3 little puts in the Nasdaq 100 index. I was "up" $2k and didn't close-out my position because I wanted to hold it till the end to squeeze out another $1k of premium.
What a bad idea.
2 weeks later, with 1 week left till expiration, the market tanked and it was a Friday.
My position was now -$3k.
At 5 minutes left in the session, I closed the position.
On Monday morning at the open the bid was 60 !!
That's the number the brokerage would have closed me out at.
Potential loss of $18k !!!
In this case, I avoided the "shit".

This reminds of of 8/24/2015. But I was not autoliquidated by IB at the open and I made it all back by the close.

syswizard · Nov 23, 2015

noddyboy said:
This reminds of of 8/24/2015. But I was not autoliquidated by IB at the open and I made it all back by the close.

You got lucky Dude.
Yep, if I stayed in and did not get liquidated at the open, the market bounced on that Monday and I would have stayed down the $3k. If I had been able to hold till expiration, I would have been even on the trade.

noddyboy · Nov 23, 2015

syswizard said:
You got lucky Dude.
Yep, if I stayed in and did not get liquidated at the open, the market bounced on that Monday and I would have stayed down the $3k. If I had been able to hold till expiration, I would have been even on the trade.

Yeah never seen that one before -- not even 9/11. If ETFs can be -60% for no reason, this market is just not like it is before. Everything is to make HFT money. Even the SEC says so. Even the courts say so.

Chewy · Nov 23, 2015

I strongly believe the entire story is a fake to get free money.

Maybe I should come up with a good sob story to make them all cry and send me their excess cash. Boo Hoo. hahaha

I used to be a sucker for these sob stories but after 70 years and having the story writers take all my money, I finally toughened up. Sorry no more money boys and girls. You will just have to grow up and pay your own bills.

Chewy · Nov 23, 2015

http://www.zerohedge.com/news/2015-11-23/shorts-executed-kalobios-goes-full-volkswagen

this stock has now gone from

From 44c to $45.82 in a week...

so the insider who bought a million shares has made $45 million in one week. Nice trade for him. pretty good story to read about. this is what dreams are made of. hahaha.