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Non-Tech : Raptor's Den

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To: macavity who wrote (2636)	8/9/2002 5:45:09 PM
From: mishedlo	Read Replies (1) of 10157

My play of the day and I did it was ELX puts at the close yesterday. NOT ENOUGH DAMN IT! But...... Although ELX opened way down, they did not open the options up for at least 10 minutes. I was furious. But it dropped in that timeframe, I would have taken my profits at the open and been done with it. Then when they did open up bid wa 7.50 ask was 8. Fine with me cause I paid 2.2 Tried to sell at 7.50. No sell Tried to sell at 7.40. No sell Tries to sell at 7.10. No sell (the bid was still 7.5). Since....... They turned off "auto execute" or something like that and EVERY FN order had to be routed to a specialist. This took another 10 minutes or so. By the time the specialist got it the bid was 7.1. I took it. NEVER seen anything like this horsesh*t ever before. All I can figure out is some "specialist" was taking the cut off each trade (shorting the stock in his acct, immediately covering, for the difference between what I got for the put and its intrinsic value). No doubt tons of people were assigned early today with the crooks taking a piece of each pie. It's the crooked way. Expect no less and you will not be disappointed. UFB!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! M

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