I_Am_Madness Posted May 18, 2012 Report Posted May 18, 2012 Another rough day.... Hanky, i'm really disappointed in you. On up days over the past few months, you would kick and scream and complain about how this market is rigged. Now the market has been down 12 out of the past 13 days and corrected about 10% off the peak (S&P). Every day market is sold into the mid day jam to close red. Let hear it bro! Let me see you jump for joy and sing a little! Give me a big BOOOOYAH!!!!
I_Am_Madness Posted May 18, 2012 Report Posted May 18, 2012 Hanky, i'm really disappointed in you. On up days over the past few months, you would kick and scream and complain about how this market is rigged. Now the market has been down 12 out of the past 13 days and corrected about 10% off the peak (S&P). Every day market is sold into the mid day jam to close red. Let hear it bro! Let me see you jump for joy and sing a little! Give me a big BOOOOYAH!!!! BOOYAH FOR THE BEARS!!!
FranciscoTheMan Posted May 18, 2012 Report Posted May 18, 2012 Nice title Hanky. I know you're laughing on the inside.
MrHanky Posted May 18, 2012 Author Report Posted May 18, 2012 Hanky, i'm really disappointed in you. On up days over the past few months, you would kick and scream and complain about how this market is rigged. Now the market has been down 12 out of the past 13 days and corrected about 10% off the peak (S&P). Every day market is sold into the mid day jam to close red. Let hear it bro! Let me see you jump for joy and sing a little! Give me a big BOOOOYAH!!!! I have been so busy with all kind of other crap lately,my head is spinning.... Buy stocks!
Bungster Posted May 18, 2012 Report Posted May 18, 2012 NYSE new 52 week lows are lower today than yesterday.... Does it mean anything?
Bungster Posted May 18, 2012 Report Posted May 18, 2012 For those bears still short... Good job. I'm only about 1/4 short now....
capitall Posted May 18, 2012 Report Posted May 18, 2012 MORE BOOOYAH!! Booyah for Bears! LOL. I don't like to short, but at least I've been in cash all week and have not lost anything.
Jimi Posted May 18, 2012 Report Posted May 18, 2012 I doubt I'm alone in not being familiar with this practice: When a public offering trades below its offering price, the offering is said to have "broke issue" or "broke syndicate bid". This creates the perception of an unstable or undesirable offering, which can lead to further selling and hesitant buying of the shares. To manage this possible situation, the underwriter initially oversells ("shorts") to their clients the offering by an additional 15% of the offering size. In this example the underwriter would sell 1.15 million shares of stock to its clients. When the offering is priced and those 1.15 million shares are "effective" (become eligible for public trading), the underwriter is able to support and stabilize the offering price bid (which is also known as the "syndicate bid") by buying back the extra 15% of shares (150,000 shares in this example) in the market at or below the offer price. They can do this without the market risk of being "long" this extra 15% of shares in their own account, as they are simply "covering" (closing out) their 15% oversell short. If the offering is successful and in strong demand such that the price of the stock immediately goes up and stays above the offering price, then the underwriter has Dover Sole the offering by 15% and is now technically short those shares. If they were to go into the open market to buy back that 15% of shares, the underwriter would be buying back those shares at a higher price than it sold them at, and would incur a loss on the transaction. This is where the over-allotment (greenshoe) option comes into play: the company grants the underwriters the option to take from the company up to 15% more shares than the original offering size at the offering price. If the underwriters were able to buy back all of its Dover Sole shares at the offering price in support of the deal, they would not need to exercise any of the greenshoe. But if they were only able to buy back some of the shares before the stock went higher, then they would exercise a partial greenshoe for the rest of the shares. If they were not able to buy back any of the Dover Sole 15% of shares at the offering price ("syndicate bid") because the stock immediately went and stayed up, then they would be able to completely cover their 15% short position by exercising the full greenshoe. Greenshoe
MisFit Kid Posted May 18, 2012 Report Posted May 18, 2012 MORE BOOOYAH!! Found Hanky's License Plate........
Bungster Posted May 18, 2012 Report Posted May 18, 2012 NYSE McClellan oscillator is below -100, NYSE new 52 week lows is lower today...my SPX target was 1290....I'm edging towards the door on my shorts....
zero_value Posted May 18, 2012 Report Posted May 18, 2012 For those bears still short... Good job. Well had too many bad experiences and filled shorts way too early, example: Bought UVXY @13.50 sold $15.00 now its only $25! Had a full position in NQM12 @2700 and filled 1/2 at 2690 and the other 1/2 at 2625 and since then been trying to trade with a short bias but switching long from time to time, I have had trouble with it and have given back a lot of gains....WTF.....
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