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Strategies & Market Trends : The Thread -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (11494)	8/25/2000 11:35:24 AM
From: Mike E.	Read Replies (1) \| Respond to of 49816

Out QCOM for 1/2 point. I had planned to hold and let it play out, but I'm going all cash in trading accounts before the weekend. Still holding some in core. After this incident, I guess I'm a little shaken. Right now, cash looks really good in those accounts to me. If I miss a big Monday morning pop - oh well. :( Mike

To: stan s. who wrote (11494)	8/25/2000 11:38:06 AM
From: vagabond	Respond to of 49816

Big problem with trying to "reverse" all the EMLX trades is that many people who profited from today's debacle (shorts) may have done quick turnarounds and already re-invested those profits in other stocks. Which would create a "domino effect" that would cause all kinds of other complications (can you now go and tell someone who bought another stock with EMLX profits that those profits weren't "real," so now their other subsequent buys are invalid and they're going to owe money on those after being declared short in them?). Really an unholy mess... Vagabond

To: stan s. who wrote (11494)	8/25/2000 11:39:43 AM
From: Wes Stevens	Read Replies (2) \| Respond to of 49816

reversing the trades is possible - but I don't think they want to deal with that type of pain. in the end it is the responsiblity of the trader to verify the source of any news that is used. the naz halted the stock when they heard that the release was bogus. I think that their responsiblity ends there. this has happened before and there was no talk of reversing the trades. so far on this one the only person talking about reversing the trades is kenan - not the most reliable of SEC voices out there :)