SKF halted

jprad · Sep 19, 2008

Quote from forsalenyc:

gotta be a mistake.....SDS is up about 5pts since SKF was halted

TradeStation still shows SKF halted.

forsalenyc · Sep 19, 2008

Quote from jprad:

TradeStation still shows SKF halted.

my orders won't even show now......it's definitely halted.....god i hope they break my trade lol

Arnie · Sep 19, 2008

Its halted...........

http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts

sprstpd · Sep 19, 2008

Don't you know, they are gonna come arrest all of us who buy SKF cause that is shorting the financials! Shorting = bad!

forsalenyc · Sep 19, 2008

Quote from Arnie:

Its halted...........

http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts

i guess they won't break my trade then.....if it was halted 9:55....i got out around 9:36. but the halt process was definitely messed up.

dumpandbasher · Sep 19, 2008

They better not fucking cancel my trade.

But then why is this halted. I thought SKF didn't short, and used options instead?

sprstpd · Sep 19, 2008

So why is SKF halted? Is it because that would be shorting financials by going long? And that is now prohibited? At what moment in time did that become law (if it did)? I mean, you can still short financials at IB. Are they gonna come around and arrest me for putting out a short on the XLF?

If SKF is not halted because of this reason, then why is it halted?

jficquette · Sep 19, 2008

Quote from dumpandbasher:

They better not fucking cancel my trade.

But then why is this halted. I thought SKF didn't short, and used options instead?

Options need shorts to work.

Landis82 · Sep 19, 2008

Quote from jficquette:

Options need shorts to work.

Yes, but now the market-makers have to wait for an uptick . . . I'm sure that will work REALLY well in a down market when people come in buying puts and the MM is unable to sell stock immediately ( waiting for an uptick ) to hedge.

Welcome to France folks!

Landis82 · Sep 19, 2008

Quote from sprstpd:

So why is SKF halted? Is it because that would be shorting financials by going long? And that is now prohibited? At what moment in time did that become law (if it did)? I mean, you can still short financials at IB. Are they gonna come around and arrest me for putting out a short on the XLF?

If SKF is not halted because of this reason, then why is it halted?

Short-Selling on 799 financial stocks has been halted, immediately as per the SEC.

Go to the SEC website to read the order.