Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Deeber who wrote (5331)	8/21/2001 3:24:02 AM
From: maceng2	Read Replies (1) of 6873

Deeber, I think your type of problem has happened several times, not sure even if there was some deliberate mistakes on the brokerage side. I had a similar experience with some SUNW puts just before a split. The amount at stake was only $18k though and my broker (datek) straightened it out. Not so sure the same thing would have happened if the $$'s was (say) 100 times that amount. Being a small fish helps when you are in mistake mode. What happened was I bought some otm puts. The stock split and the brokerage software showed my puts were worth lots more so I promptly sold them without doing some real checking. Effectively what happened is that I went short some itm puts post the split. SUNW stock tanked as I expected but was now on the wrong side of the trade. My original otm puts did go in the money and I sold them for a nice profit so it ended a happy story. Be always careful of sudden increases in wealth during a stock split. Hope it works out for you. If an error has been made can't the trades be broken?

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