My jaw is still dropped.
Can't believe it hit 15. Manipulation at its finest.
Didn't they do this to RMBS early last year or the year before too around this price...slamming it way down, taking out all the stops, only to then come right back? The pitfall of stops, in a nutshell.
Didn't they do this to RMBS early last year or the year before too around this price...slamming it way down, taking out all the stops, only to then come right back? The pitfall of stops, in a nutshell.
Didn't they do this to RMBS early last year or the year before too around this price...slamming it way down, taking out all the stops, only to then come right back? The pitfall of stops, in a nutshell.
Update from court hearing
Judge Kramer confirmed the trial will start on time, yet he said he was concerned regarding the other trial he has scheduled three months from now. He said he is considering bringing in a new trial judge to try this case. Judge Kramer would continue ruling on the existing motions. Judge Kramer spoke to his boss about bringing in anther judge to be dedicated just to this trial. Rambus didn't like the idea becasue of the possibiliites of delay and because the new judge would lose all the context of the case and previous rulings would make trial a big mess. samsung and Hynix seemed okay with the idea. Surprisingly, Micron suggested that the new judge handle the other case instead of this one so Judge Krmaer could keep this case. At this point judge kramer is still thinking about it. Yet he reemphasized this trial will start on time.
In addition, judge Krmaer ruled that the statue of limitations doesn't need to be tried by judge or jury, because Rambuss' notice was sufficent that it should have investigated regardless of later deception. Rambus can bring in the pre-sol evidence for other purposes such as impeachment or witness rebuttal.
You got to admit, the hedge fund guys have a formula, it works and it sucks
Briefing warns investors so they tighten their stop losses and a few hours later, the overwhelm the sell side which results in cascading wave of downward pressure that drives the price down to the hedgies buy stop orders.
The other possibility is that there is negative news from JK and we just haven't heard about it yet. That would be a huge and very unpleasant surprise.
Stressing out. Had to sell 75% of RMBS position. It will go up now for you guys
I feel your pain......but the hedges wouldn't have bought back if they didn't think something was up.
This is why you should never use stop losses... too much manipulation going on. Look at the RMBS chart in 2006 right before the jury ruled 42-0 in favor of RMBS.
If this was something really bad, the price wouldn't have recovered the way it did. What I saw on Level 2 was a lot of small sells by retail investors and a lot of block buying from institutions. I have to bet most of the institutions were buying, otherwise, at this volume the price would have hit below $10 by now.
I'm still listening to the courts now, report later. This should be an all day event.
Too late to get in?
After the close I will get some actual order info for you guys. Not sure how many shares actually traded at the extremely depressed levels. My guess is not very many.
Only 30 lots traded <19.50 according to some quick research on totalview. Could be a lot worse, will let you know after the close.
Too late to get in?