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Aren’t you excited then? Believe you sold all your TSLA hoping for further drop? Be careful as there usually starts to be a divergence between stronger companies and weaker companies the deeper you head down market dips.Futures are limit down, tomorrow will be a very bad day on the markets. (Not advice)
Thank you for explanation, it looks like the short exempt may have an additional source, if a broker-dealer choses to check that box voluntarily, looks like to save them grief in HFT.Lodger - I really treasure your aftermarket reports and short exempt reports so please keep providing this valuable service. However you keep misrepresenting what "short exempt" means. It does NOT mean NAKED SHORT SELLING!
The term comes from 17 CFR § 242.200 (g) (2) which says:
17 CFR § 242.201 (c) says:
which are both unrelated to the naked short selling exception (Not exemption) described in 17 CFR § 242.203 (b) (2) (iii)
Basically short-exempt means either that the broker-dealer (market makers and others!!) is exempt from the uptick rule either because (c) they swear that when they entered the order it really, really! was above the best national bid - but just in case by marking it exempt it will execute even if for some reason it's not (above the best national bid) when it actually gets to the "market" 70 microseconds later or (d) it's part of some basket transaction or various other unlikely conditions.
So short-exempt is specifically "exempt" from the up-tick rule (and thus only meaningful when the up-tick rule is in effect) usually because the broker-dealer decided themselves that it met the rule so NASDAQ or various ECN's can skip the up-tick rule check and just go ahead an execute it anyway.
Futures opened and immediately on the forth candle went to limit down - another very bad Monday is upon us
Money rotation into America 2.0 tech stocksView attachment 524499
If I am interpreting it correctly, The S&P made it for 4 minutes, the DOW made it to 7 minutes, and the NASDAQ got all the way to 32 minutes before hitting limit down.
If deal is reached, it will flip quicker than you blink.Futures opened and immediately on the forth candle went to limit down - another very bad Monday is upon us
Tbh I don’t expect Tesla to crash in multiples of the market down days anymore, as it is more well positioned than others to handle this downturn.Money rotation into America 2.0 tech stocks
What is really disturbing is that it appears that the reason the US markets are not shut down is that major brokerages and large hedge funds are, once again, being allowed to try to get out of their 10 to 15x-leveraged, losing positions at the expense of the retail investor.Futures opened and immediately on the forth candle went to limit down - another very bad Monday is upon us
I think there will be a margin call domino effect combined with delta hedging put squeeze, plus the dumb shorts that love to sell low, which is the complete opposite of what we experienced in early February. I’m expecting $1xx as the bottom. Good for opportunists, bad for leveraged gamblersTbh I don’t expect Tesla to crash in multiples of the market down days anymore, as it is more well positioned than others to handle this downturn.
Tesla is not depending on bailout grants or loans; thus, this package doesn’t help them as much as it does other companies. Plus, it is geographically hedged and capable of socially distanced business (via touchless deliveries).
Anyway, I hope I’m right. But to be safe, I transitioned out of shorter term calls end of last wk to be safe. Will possibly make short term plays on any dips into late Tuesday or Wednesday.
However, I expect other stocks I’ve entered into positions on recently (except maybe Google and Zoom) will dip though - including LULU, MGM and NRG.
Edit: yes, I’m not longer 100% Tesla after all these stocks have presented discounts for us....
I've been trading options for 30 years. Only once did I ever place a market order for an options contract. It was a near-expiration (few days left) SP500 index contract that had huge volume (huge for options, like nearly one trade a minute) and I still got screwed by about $10k because it didn't execute for over 2 hours, even though it was a market order. I'm certain E*trade front-ran me; they were never able to explain why a market order took over 2 hours to fill with literally thousands of trades printed between order entry and execution and they refused to compensate me. Needless to say I dropped them as a broker right away (this was in the era of dial-up). Learned my lesson and I never, ever, ever use market orders on options contracts. I very rarely use them for stock orders. Brokers and MM can't be trusted.... I got absolutely screwed last Monday when I had to quickly put in a Market order for FCAU Puts before I scrubbed into surgery, only to see them filled at SEVEN times the Bid/Ask price. The trade was supposed to cost around $20k, instead Fidelity forced it through and I was instantly down over $100k after the trade (I have never had that happen before with a Market order)! Day trading when you can't watch it is dangerous.
Tbh I don’t expect Tesla to crash in multiples of the market down days anymore, as it is more well positioned than others to handle this downturn.
Tesla is not depending on bailout grants or loans; thus, this package doesn’t help them as much as it does other companies. Plus, it is geographically hedged and capable of socially distanced business (via touchless deliveries).
Anyway, I hope I’m right. But to be safe, I transitioned out of shorter term calls end of last wk to be safe. Will possibly make short term plays on any dips into late Tuesday or Wednesday.
However, I expect other stocks I’ve entered into positions on recently (except maybe Google and Zoom) will dip though - including LULU, MGM and NRG.
Edit: yes, I’m not longer 100% Tesla after all these stocks have presented discounts for us....
@KarenRei and @Fact Checking, please come back. It's really boring without you. My body is wasting away. Brain ok so far, but it needs exercise too.
$100’s would be craazy to me. I wouldn’t be surprised at 200’s, but I was personally thinking low 300’sI think there will be a margin call domino effect combined with delta hedging put squeeze, plus the dumb shorts that love to sell low, which is the complete opposite of what we experienced in early February. I’m expecting $1xx as the bottom. Good for opportunists, bad for leveraged gamblers
A worthy discussion to have.
One thing to be mindful of is that Tesla is firmly in the premium car segment. It would be good for anyone who had data about how the premium segment of new car sales has held up in previous economic shocks, to share it here.