Breifing paid for itself today ill say! When the union president said bankruptcy was enevitable on DPH me and the guy next to me managed to get 8000 short at 1.33. I made about 1000 there (2000 easy if i didnt have stupid swift mentality), and then from that point on just scalped it with 1-5k blocks. The ECN's were all over the place and the spec is sooo slow he arbs for such easy money.
I almost got raped when the second part of news came out about trying to avoid bankrupcy. I had 2500 short at 1.21 and it was trading around 1.17, but i had to market out and got flipped 1500 long at 1.32. Got that out .41 and .47 so the loss wasnt too bad. Funniest thing though, a guy in our branch got stuck and put in WAY too many orders and got flipped 33,000 shares at an average of about .32 i believe. He got it out with an average of about .39 (manager came over and started pounding him out) and finished up 2600 bucks.
More bankruptcies please!