Recommended Reading

Google Search

Charts courtesy of

Thursday, October 24, 2013


Muddy Waters, an outfit which seems to specialize in causing stock collapses by accusing them of being frauds, did it again today. NQ, which has been prominent on several of my scans in recent months, dropped 50% before recovering a bit. Since it has been prominent in my scans, it is entirely possible I could have had a position in it, but fortunately I never pulled the trigger. Looking at the chart, it sure looks like somebody had some orders waiting at the 200dma, a process called "stink bids", where you put a limit order miles below the market price, just in case something like this happens. Most online brokers I know of won't let you do that (Scottrade requires any order to be within a certain percentage of the current market, what that percentage is I don't remember), but I'm sure there are enough unscrupulous people in the market to get plenty of those orders in, especially if they knew this was coming. 

No comments:

Google Analytics