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Car Stock Exchange Market manipulation
16 messages, Last post on Oct 15, 2008 at 8:39 PM
You are in the Car Stock Exchange Forum.
It is pretty obvious that some players are manipulating stock prices with multiple accounts. This doesn't bother me until I get caught in the middle of this while covering a short and the stock price jumps $127 dollars a share and I lose 65K. Grow up and learn to play by the rules!
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Replying to: nate4924 (Apr 09, 2008 9:04 am) |
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Replying to: nate4924 (Apr 09, 2008 9:04 am) |
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Replying to: nate4924 (Apr 09, 2008 9:04 am) |
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I tried a round trip transaction this morning on S94X at a time when it looked like no one was touching it. I was expecting it to have no net effect. I may be wrong since I'm still having trouble understanding the figures for short positions, but it looks to me that I made a profit. Saab 9-4X (S94X) (13,259) $87.40 $1,158,836.60 5:52am 10/11/2008 Short Saab 9-4X (S94X) 68,318 $16.96 $1,158,673.28 5:50am 10/11/2008 Sell Saab 9-4X (S94X) 81,366 $16.04 $1,305,110.64 5:49am 10/11/2008 Cover/Buy Saab 9-4X (S94X) (13,048) $87.77 $1,145,222.96 5:30am 10/11/2008 Short Mike, can you confirm my observations and also confirm that no one else was trading S94X during my round trip? |
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Replying to: yuant (Oct 11, 2008 6:28 pm)
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| Someone has been messing heavily with the Tiguan today (Sunday). As of about 17:00 CST over 1,400,000 shares have been traded. I saw a high share price in the 90.00 dollar range and then a minute later it was less than one dollar, and then back to about 10 dollars just a minute after that. I am honestly not accusing anybody, but I also noticed neurotic has made about a million dollars today. | |
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Replying to: bradyholt (Oct 12, 2008 11:26 am) |
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Replying to: yuant (Oct 11, 2008 6:28 pm) 1. Shorted 13,048 shares, essentially you "paid" 12.30/share (inverse of 87.70 or 100.00 - 87.70). Break-even amount: $160,490.40 2. Covered 81,366 at 16.04/share: Transaction value: 1,305,110.64. I don't know how many shares you owned total (and what the value of those previous transactions were, but for #1 short, you made 16.04 - 12.30 = 3.74/share. For #1, you should have come out ahead 48,799.52 (or thereabouts). 3. You then sold 68,318 share at 16.96. I don't know the price at which you originally purchased these shares. That will determine the profit or loss you had here. 4. And now you hold a short position of 13,259 shares. Is that correct?
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Replying to: mikedrud (Oct 13, 2008 10:58 am) Mike, was there anyone else placing trades on S94X between my first and last trade?
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