<p>Some jerk sent out a fake AP terror tweet and tanked the market for five minutes. I hope that jerk gets put in jail.</p>
<p>Always have a lowball buy order around I guess!</p>
<p>Anybody playing or going to play aapl?</p>
<p>I have always thought that was a good idea (the lowball bid) but if it goes down “too much” where “too much” is arbitrarily defined by the SEC or NASDAQ or whoever, they may break your trade, of course cancelling your buy but not your quick sell, so you end up short the issue. More trouble than its worth for sure. I was eating a late lunch and never saw the panic dip.</p>
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<p>I bought 4K QLDs yesterday so I guess I’m playing AAPL.</p>
<p>There was one flash crash time when a stock that I wanted went from about $8 to $2. I put in an order and it sat around for quite some time and it never got filled. I figure that there are some safety mechanisms in place to prevent stuff like that happening or I got filled and it was quickly broken and it was fast enough so that they didn’t send me an order confirmation. Gifts are rare.</p>
<p>BTW, I used to have a way to make a little change by knowing the behavior of a particular market maker. The stock was MMM. I’d put in a limit order about ten to fifteen minutes before the close on a Friday and I would often not get filled even though the ask was lower than my bid. I assume the market maker was asleep or took off early. If the opening price on Monday was higher than my bid, I’d call up the broker and ask what happened to my buy on Friday - they would look into it and give me the shares. If it was lower, then I ignored the trade. I very much doubt that sort of thing works anymore the way electronic trading has taken over.</p>
<p>I sold some 4/26 qqq 68.5 puts. I like the aapl 400/500/600 butterfly but I’m going to wait until tomorrow. I may play qcom on the back of aapl earnings.</p>
<p>ARMH had blowout earnings (so I’m told) which is probably good news for QCOM. I realy haven’t studied QCOM all that closely - I understand it’s a very good company but I don’t have a feel for the stock or financials. We have a short period of time to earnings. BTW, CREE reports today too. They broke out today so someone thinks that they’re going to have great earnings. I don’t like to jump the gun like that. I really hate the market shooting up before earnings at an important company - it’s the perfect setup for bagholders to hold bags.</p>
<p>We discussed this before - the many reasons to not have all your money at one broker. Schwab website has been down since 3:20pm. If I really needed to trade I have a recently opened account at Fidelity.</p>
<p>Had a gtc order to sell my last remaining shares of T (at 39). Wonder if I got filled… hmmm wonder if I will get an email even if their trading website is down.</p>
<p>I could not get on Schwab obviously. I had an order to buy the 405-410 call spread, but didn’t get filled . I would have bot something. I did buy the 415-420 spread.
Ok here we go…</p>
<p>I am reading about this drop today and I don’t get what the big deal is…</p>
<p>The market dropped 1 percent from its highs? Bfd…</p>
<p>Buying an 8 dollar stock for 2 bucks… That trade is busted these days which is too bad.</p>
<p>Looks like Schwab cost me money. Aapl is trading 427-428 area as I write this…</p>
<p>Well you made money on the 415 -420 at least for now. We have to wait until tomorrow to see what is really going to happen. It frequently comes back the next day.</p>
<p>Yeah… </p>
<p>Aapl is not going to be a big deal for me…the stock is dropping a little bit…
Looks like your puts are going to expire worthless…</p>
<p>Your spy trades look good so far.</p>
<p>Wow aapl is actually down a bit now from the close. Maybe I’ll be able to get one of those long dated butterflies tomorrow.</p>
<p>Looks like you will…</p>
<p>Below 406… </p>
<p>That must have been one sh… Conference call.</p>
<p>I think that margins aren’t going to be great and that they said something about long-term investments over short-term returns.</p>
<p>I’ve never traded after hours but I can imagine that those who do and had a big profit when it was up more than 20 points would sell it while they could. Tomorrow will probably be a whole different investor group who do not trade in the after market so it may still pop tomorrow.</p>
<p>I trade better blind. Sold 100.5 shares of T at 39.00 Still have a little bit of VZ that I will sell soon. I loved these stocks for a few years, don’t love them any more. Everyone is piling into the dividend stocks as relatively “safe” driving their yields down and price up. Sure, it can go a lot farther, but I have to lighten up.</p>