Wednesday, July 01, 2020 12:48:10 AM
So I dealt with the top dog. He did not know anything about the companies business and told me he did not want nor need to know. It was a number and a symbol , that's all.
My own traders knew what I told them. If curious they knew tons. Some didn't care.
That story is how a trader gets trapped and usually they will do a single firm / broker attack.
How do I know that. A story.
I was short EQTB, Equitable Savings and Loan
It was as close to Bankruptcy and not filing yet as can be. I knew every detail.
So I'm short. Big time short.
I am innocently in my office next to the news ticker, the never ending paper on the floor. My US Marine Officer Pal starts reading. He shouts at me, stop, there is news on EQTB.
A Buy OUT. I thought it a joke. We did that often. I read the tape then a star appeared on my Bunker, yes, its legit a buy out by Ben Franklin Savings and Loan
Confusing, poorly worded, no one knew what the deal was. I went to a Pal in my office that owed me a huge favor. Asked him to call his Dad, ask If I can talk with him. His Dad was number two position at Ben Franklin. OK , I was in the elevator up to 8th floor, received the details, down the elevator, sat in my office, filled in a huge sale ticket. Walked into trading next to the office a doubled my short.
Trader looked perplexed. It's getting bought out, why are you doing this, just short it. My own trader thought I had key info.
I had info but it was super news, but I shorted it. I did not tell my trader what I knew.
Why did I double down short it. Same exact reason the shorts attacked today. They are running out of time. Read the Insider Financial out today after the close. Mexico can be approving our Leronlimab within three weeks.
The time to kill the stock, to average your lousy priced lower shorts is coming to an end. They had to attack now. Read that article.
In my case I knew I was toast in EQTB. An all guts play would convince the stupid Portland traders that I knew something they didn't. The stock went down 50%. I covered
Then a bought a hug position long and tendered it.
Time was running out. Just like in CYDY, the time is running out. The shorts only hope was to attack and do so fast.
Strategy. Investing is complicated. Not all is what it seems.
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