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Corrections Corporation of America Message Board

  • flipper_58 flipper_58 Nov 22, 1999 10:00 AM Flag

    Seller cleaned up?

    Looks like the load of stock that was over the market has been cleaned up.

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    • Does anybody know the date of the meeting to
      declare the next dividend? And have any insight on how
      much it will be? Will it be in cash or funny money?
      Junior's "cash challenged" remark in the CC makes me
      wonder if they have something up their sleeve.


      Thank God for CSCO, AOL, and ORCL. At least something
      in my pork-folio is going up.

    • Has anybody been able to contact IR or any board
      members? I know we are about due for announcement of the
      next payout, would like to think it won't be another
      "unpleasant surprise" that shocks the street. My calls always
      end up in someone's voice mail, with a mesage to
      contact the person who just transferred me there. A big
      piece of PZN's problem is that they just don't want to
      talk to shareholders. Probably have the same tendency
      to avoid contact with analsyts.

    • No. Roller Coasters end up where they started. We should be so lucky. Live quote is 9.125, off 13/16ths.

    • looks like flight 900's flight profile, a
      nosedive with a climbing recovery, a slight level off, and
      then back into the dive (today). Owning this stock is
      like riding a roller coaster. Just when your stomach
      settles and you regain your composure, it starts down
      another steep incline!

      w_

    • eom

    • Why CSCO,MSFT etc.. never listed...was a question
      I wondered for years. I do know the MM's made $4b
      in spreads from OTC stocks(according to the
      lawsuit)so the MM machine had a huge interest in keeping
      things the same. The only reason I assumed the BIG OTC's
      stayed OTC was exposure and better "sleath trades".
      Exposure since they are were competing with ATT, GM, etc.
      for nightly business reports. Sleath trades because
      traditionally it's been easier to more large blocks more
      quietly than the NYSE.
      The NYSE has a lot of
      monpolistc power over it's stocks and how it trades and
      prints. NYSE members can not trade within the spreads as
      told buy the NYSE, so when it was 1/8 spreads a lot of
      people really screamed having to always give the floor
      firms the spread. They still do at 1/16.
      So what
      broke the NASDAQ log jam? THE CBOE lawsuit and the
      NASDAQ organization itself. This stuff no likes to talk
      about but you'll be amazed at their arrogance. Prior to
      being able to put limits on the NASDAQ the spreads were
      fixed at what the MM's wanted....regardless what the
      customer wanted. This really hurt thin stocks as you may
      remember. SO if a stock was bid $10 offered $10.75....it
      was your tough luck.....then came along "Selectnet",
      a totally private system FOUNDED by NASDAQ itself
      for MM's only. It allowed MM's to show bids and
      offers INSIDE the spreads they showed the rest of the
      world....legalized front running made more efficient. They was one
      step too much at screwing the customer, IMO, this idea
      founded instinet, a third party agent system to trade
      anything at anyprice. MSFT was trading at 1/128 spreads
      and 1/8 spreads on NASDAQ....didn't last long and the
      game finally changed. Bulletin Boards stocks still
      trade the old way, no limit orders inside the MM's
      spreads.
      Intesesting enough the lawsuit was brought and settled on
      because of"excessive transaction fees" charged. Firms
      like Merrill Lynch were not only charging commissions
      but making huge money on the spreads hugely inflating
      the transaction cost of the trade. THe list of MM's
      that settled is a complete list of Wall Street's
      finest.
      All this is coming about because of the volume
      otherwise the self ruling organizations probably would have
      stomped the Manning rule as they did in the earlier 90's
      once before. If the market cracks and volume dries up,
      you can bet the "insiders" will scream foul saying
      the rules are unfair.
      I did a little survey of my
      brokers for my business about the lawsuit and what it was
      about and why, they were told very little by their
      firms. Also do you get a notice in the mail about the
      biggest change on Wall STreet since deregulated
      commissions, the ability to enter your OWN price to sell an
      OTC? NOT one firm I saw ever said a peep.

      As
      usual this is just my opinion....the author or this
      post assumes no responsibility for accuracy to the
      facts and timing of said statements. (Don't want the
      slicked haired investment types at my door..you know)

    • I bought some more this morning (why do the
      buying opportunities always happen like last Thursday
      when I'm on the road?) but I entered the order at
      9:59, and the market order was shown as "open" until
      10:07 when I got a fill at 10 3/8. Not that the price
      would have been different, but I had another experience
      2 weeks ago when I cancelled a market order after 5
      minutes of nothing done. This morning, I watched the
      trades from 10:20 to 10:25 -- no trades for 5 minutes,
      despite volume of 220,000 shares. My bottom line -- what
      the hell is going on with the specialist? Is there
      just one person making the market, are they shopping
      bids, or just plain lazy?

      • 2 Replies to follow_the_rat
      • Sounds to me that it is very likely your
        complaint should be with your broker rather than the
        specialist. If your broker was there with a market order,
        there could have been other sellers there beside the
        specialist to sell shares to you.

        On the other hand,
        I'm sure there are times when lulls take place,
        nature calls, the specialist was working on a large
        trade or whatever that might account for a break in
        trading.

      • Not easy to explain.....possibily 2 things.
        Mostly likely just late reporting. If you were buying
        more than what was presently offered the specialist
        might have had to "bunch" orders or wait for a seller,
        than just cleaning out offers up to $11 type
        transaction.

        IMO, the specialist systmes is the best. THey CAN not
        trade in front of you or against you like the NASDAQ
        scum...I mean traders. I truly believe the specialist's
        work at getting you the best orders...IF it's excuted
        on the NYSE....regionals(Boston, Phil) are a
        disaster and should be closed, IMO. They trade against you
        often.

        I assume you were the 3,500 shares purchased which
        looked like a good fill at the time. Even the few 2k
        trades afterward were good fills as the specialists was
        showing $10.50 offer at the time. Also remember if their
        is a floor broker/s at the specialist post he might
        have a better price than the specialist books, they
        takes time to fill.

        Look at the offer when you
        enter orders, if it's larger than what you want to buy,
        put in a limit. In my daily work I rarely enter in
        market orders because you can't always be sure where
        your order is going to be excuted. ANd the regionals
        that many on-line firms use will give you the worst
        fills because many times they are buying the shares for
        their personal account....talk about scummy.....but I
        see it all the time on thin stock I work
        with.

        New rules, requiring OTC and regional firm to accept
        limit orders has helped to a huge degree, but these
        guys generally make their money on the spreads so they
        like them wide. Many NYSE specialists firms are like a
        license to print money so they run a cleaner act,
        IMO.

        Also put in "Good Till Canceled" buy order at
        differenet levels below the market, IMO. It helps keep the
        fear and greed out of your purchases. It always easy
        to buy when stock going up, not down. If you'd buy
        stock at $8...put in an order now.

    • just looks like they decided to sleep in this morning. Gonna have to take out the sellers at 10 3/8.

 
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