Refco Account Security

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Quote from Lon Eagle:

Refco off another 25%.

Are all those bulls still so comfortable?
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wow what a ride, all I can say is that god for Calls..

still am a confident long..and obviously conerned..

Banks etc are standing by Refco..it is too large a corp and the issue did not affect daily business..is crazy

but still believe in the long...at least at these prices..lol

w
 
This stock will not open again unless refco has cleared up everything regarding its finances.

Which mean this stock probably will never trade again on the nyse.

Bankruptcy seems inevitable.
 
This situation reminds me of several years back when the Yen was in question..
the gov't kept jawing it was going to intervene at X...
eventually the market pushed and the gov't did nothing so the market pushed more until intervention ...

market has pushed to 8dollar range..I believe to see what the big boys would do at their dollar value..

Only time will tell..

Come on...how many of you would love to buy at these prices....
isn't this what trading is about...one thinking long and one short..

but there comes a time when even the short/longs change...

good luck with your trades..

w
 
Quote from nassau:

This situation reminds me of several years back when the Yen was in question..
the gov't kept jawing it was going to intervene at X...
eventually the market pushed and the gov't did nothing so the market pushed more until intervention ...

market has pushed to 8dollar range..I believe to see what the big boys would do at their dollar value..

Only time will tell..

Come on...how many of you would love to buy at these prices....
isn't this what trading is about...one thinking long and one short..

but there comes a time when even the short/longs change...

good luck with your trades..

w
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You will not have an opportunity to exit your position. Trading in this stock is done.
 
I'd like to say it will just be merged out by another firm but the price they would offer would be nothing. They all hate Refco with a passion. They've been trying to sell it for 15 years before they took it public.
 
Quote from local_crusher:

NYSE Halt: I wouldn't wonder if they are already bankrupt.

Traders I spoke to the last day are pulling their funds out at lightspeed.
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Likely "Much ado about nothing".... Client funds are segregated from corporate money. Worst that should happen is that Refco goes bankrupt and someone takes over their client accounts.

(In the '80s, I had an account with Chicago Grain and Financial Futures Company which went tits up... Refco bought them out and it was business as usual, all around.... Might see something similar here.)
 
Quote from Htrader:

This stock will not open again unless refco has cleared up everything regarding its finances.

Which mean this stock probably will never trade again on the nyse.

Bankruptcy seems inevitable.
More...

I would be inclined to agree. Refco is probably done, their underwritters are probably in a world of shit too.
 
Quote from Htrader:

You will not have an opportunity to exit your position. Trading in this stock is done.
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On what information did you base the above statement.

If you have news I would appreciate the web site etc.

w
 
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