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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Kailash who wrote (29977)4/15/1999 8:33:00 PM
From: steve goldman  Read Replies (4) of 122087
 
Kail...when you are shorting and there is no upbid, and the stock tanks from 40 to 35 in 5 minutes, there is nothing you can "get". What you can do, what we do do and what was done, is that your stock is represented on the offer. If you were watching the stock, HRZG had a crossed market, (situation where the bid is actually greater than the offer) which auto-rejects any attempt to put anything on any ECN and since you cant hit a downbid, you end up being stuck doing nothing. Ecns wont take it and no upbids to hit...
Infact, tony and I were working this very same stock probably the same time someone else in my office was working it for you. It was a joke. And HRZG was to blame. But ultimately you need someone to take your stock. The best we can do is offer it. I surely wont take it for my own account.
Better luck next time.
-steve@yamner.com
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