The Scariest and or Dumbest thing I ever did voluntarily Message Board

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Pastimes : The Scariest and or Dumbest thing I ever did voluntarily

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Nov 4 2:01 PM EST

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To: Magnatizer who started this subject	4/25/2001 8:46:48 PM
From: Wayne Rumball	of 117

Lessee, scary or dumb... Well I have a combination of the 2. Last January I somehow bought 1000 shares of a $109 stock @ 1/16 (one sixteenth of one dollar, or $109,000 worth of stock for $62.50, before commissions of course). After I got up off the floor and sat back in my chair, I intended to sell them right away, but instead entered an order to BUY 1,000 MORE shares. Which I was filled on. The first 1000 gave me lots of margin available to do this. (This being the dumb part) So, I got up and went outside for some air. When I came back I calmly entered a sell order for 2,000 shares. Filled. So this is on a Friday afternoon, around 3:45. At 4:10 I get an email, "Dear Mr Rumball, your buy of 1000 WXYZ @ 1/16 was BROKEN. Please do not hesitate to contact us if you have any additional questions." So now I'm SHORT 1000 shares of a $109 stock, which translates into about 5X the money I had in that account to do such a trade, and a weekend to worry about it. (This being the scary part)

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