Never saw anything like this in my life. Saw the announcement around 2:45 that the banks got a decent report so I buy 1500 shares of JPM at 34.00 It goes up to 34.38 I set a stop at 30.11 to lock in a profit and it meanders around 34.30- 34.38 for a few minutes. I check another stock come back 3-5 seconds later and see last print was a buck lower! 33.33!!! Thought it was a misprint. It wasnt. I didnt even get taken out at my stop but at 34.05. Now..........how can all the market makers have moved off the bid at exactly the same time for just 5 seconds and it doesnt raise any flags with sec monitoring equipment. so someone got screwed at the top and then they ran it back up again! This was all around 3:45 And....why the hell didnt the ded wait till after market close to make that stupid comment that made the banks drop like a rock and only people with news tickers would be privy to it. Bet yuh they had the news leaked 10 min before to 'friends." I was wondering why GS never went into the black after the "good news" guess they are some of the "friends." Who the hell knows, its such a manipulated market. How can a stock with 90m shares traded drop a buck in 3-5 seconds then come back?
manipulation! I won't use stops because the MM's just take them out. You can't trade this market, it's insane. Do you really think the SEC cares? When is the last time they even accused anyone? Martha Stewart? They are a bunch of idiots that do nothing. By the way, why the hell were you buying JPM at 34? Are you crazy? This is so overpriced right now. I might not short it, but going long is just as bad. Good luck.
I bought ity because all of the bank stops were in motion. going only up. C actually went into the black for the first time so that was my cue. . and no I dont use actual stops, i use a trade trigger that triggers a stop limit order from my brokers platform. I agree, id never use a regular stop they could see! but still 90 million shares, why should anyone have to worry about a stop getting hit with that kinda volume?
And the other poster is right. SEC doesnt care. after martha stewart they must think all the bandits got scared and left town. Hey how do i get a job with the sec? Great benefits and maybe even a little inside information to tell your uncle,s best friends offshore lawyer about. Thats what id think, anyway. I wonder if they will ever investigate the sec? and then who do we get to investigate the guys investigating them? -)