Chemtura Corp (fka CHMT)

[Xenn]

Phrantic...Cemjq dropped to a low of 2 cents. Anyone with 30-50K could have scooped up a boatload.

Just because they had the wherewithal to scoop up 1mil-2mil shares at 2 cents doesn't necessarily infer that they are savvy enough to exit at the correct price and in a correct manner. A professional trader doesn't make sloppy exits in the manner we witnessed on Friday. That's not how I was trained when I worked professionally...there was a certain protocol to follow when offloading "large" positions.

I think some ill informed retailer offloaded a sizable position and a minion of nervous minnows followed suit. The bids were thin on Friday and although money never sleeps, Jax noted that it was a holiday. Once those holidays roll around traders mill around the water cooler, chit chat and then they leave early for their long w/end (i.e they weren't even bid sitting last Friday).

Just giving my perspective from my vantage point. We all have certain vantage points that can sometimes offer an enlightened perspective on events. You worked in the court system, we have some accountants on board, some ground level people dealing with Chemtura (very valuable perspective). Heck! even Jax worked for Peltz one time and gave us a first hand insight into what a control freak Peltz was (Snapple anyone?).

Anyway, I'm glad we flushed out some weak players.It clears the runway for the next ascent:)