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@Big Mike: The volume traded during the first hours was about 6 million shares. Your order of 10 millions share would have sent Facebook to new record highs.
However, there is an opportunity now to get filled at $ 37. If you manage to synchronize your entry with the banks covering their short positions - you need to get filled first .... do you need a phone number? -, then you may succeed to buy into your position.
Can you help answer these questions from other members on NexusFi?
If that story with the Greenshoe makes sense, the underwriting investment banks all have short positions.
Why should they support the share price already at $ 38? Let it go down a bit, and there will be considerable profits, when they purchase back their short position.
No this does not restore my faith in humanity. Faith has to do something with cooperation. The natural enemy of cooperation is the prisoner's dilemma, which fosters selfish behaviour.
The invisible hand evoked by Adam Smith is only a very special case with a limited area of application. It leads to bad results without a code of conduct, which is needed to correct its shortcomings.
I am not sure how long it will be until there are available shortable shares for public. And I don't know about options unfortunately, @sam028 was supposed to make a post about that
lol Mike. Would restore a little bit of my faith as well.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
How they are trying to blame Nasdaq on its open for FB not living up to hype. I am sure there could have been technical glitches. But reading behind the lines on that. What they are really saying is dang they messed up our ability to run this through the roof when it opened making retail pay ridiculous prices. We all know it is overvalued now so really the market by taking it down is being efficient of course needs to come down much more.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."