Thursday, May 22, 2008

PDO... No Fucking Locate!

This had to be one of the most obvious trades of all time, and I couldn't take advantage because I could get a locate.

As you know, I've been watching MXC and PDO for the last few days. They've been trading together. This morning, MXC opened and immediately dropped 15 points. Or, it lost nearly a third of it's value in the first 5 minutes of trade. And it didn't gap down either... IT TRADED DOWN! Check the intra...



Now PDO gapped up and reversed as well, but there were a few precious moments where you could have sold up over $27... it lagged MXC, importantly, by a few minutes. 5 points, EASY.



Look at the daily on this thing... unbelievable! Gotta love the AMEX.



But perhaps it wasn't so easy after all... Timmay! got a little clipped in FPP, another stock that has run with these psychos.

4 comments:

Pete said...

locate thru matador available on fpp today

wincity said...

I was waiting a couple of dollars higher with an auto trader. Not sure if I would have got shares from IB. Classic shorting opportunity.

Off Tilt said...

What is a locate?

Dinosaur Trader said...

OT,

Sometimes stocks are "hard to borrow." If so, you need to "locate" shares to short.

-DT