Posts Tagged ‘Pink Sheets’

Lehman Brothers (LEHMQ.PK) Up 200% Friday

Read this one with Zero Hedge’s "Why The SEC Is Irreperably Conflicted On The Issue Of High Frequency Trading" here. - Ilene

Lehman Brothers (LEHMQ.PK) Up 200% Friday

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Thanks to a reader for alerting me on this action Friday – the shell known as bankrupt Lehman Brothers (LEHMQ.PK) which now trades on the pink sheets rallied a solid 200% Friday. And why not – fundamentals no longer matter; even having a functioning business is just an afterthought.

As long as you have a shell that one high frequency trading firm can trade with another (or if you are real clever, I assume the same HFT firm can work in the dark pools and trade among themselves to create "demand" – not that this would ever happen because its illegal) – and lo and behold you can attrack other HAL9000s and the retail trader in.

What is inside that shell is really a moot point. The key is generation volume and earning rebates for each trade since you are adding liquidity – the cheaper the better (more shares = more rebates). Boo yah. Via Reuters:

  • It’s either a sign of sheer boredom on Wall Street, or an early celebration of the one-year anniversary of Lehman Brothers’ demise, but shares of the fallen investment bank were red hot today. The stock rose some 200%. Take that AIG.
  • For some inexplicable reason, shares of the bankrupt investment bank, which trade on the loosely regulated over-the-counter Pink Sheets, changed hands some 73 million times on Friday. That’s a lot of trading in a stock that’s been worthless for nearly 12 months. Indeed, on a typical day, the average trading volume in Lehman shares is about 2.6 million.
  • Then again, today’s trading surge boosted Lehman’s closing stock price to 15 cents. It had been sitting around 5 cents for months. Better yet, Lehman now has a respectable market cap of $103 million–not too shabby for a small-cap company on the Pink Sheets.
  • Of course, this trading in Lehman is just crazy. There’s not good explanation for it. Just as there is no good explanation for the big surge in shares of American International


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Phil's Favorites

Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months; That's 34% of Its Feeding Tube During Epic Financial Crash

Courtesy of Pam Martens

Jerome Powell, Chairman of the Federal Reserve

According to the data made available on the public website of the New York Fed, since September 17, 2019 it has funneled a cumulative total of $6.6 trillion to some of  the 24 trading houses on Wall Street that are known as its “primary dealers.” The giant sum has been sluiced to Wall Street in the form of repurchase agreement (repo) loans without any details being provided to the elected representatives in Congress as to which fi...



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Zero Hedge

Coronavirus Kills Man In Shanghai As China Confirms Nearly 2,000 Cases

Courtesy of ZeroHedge View original post here.

Summary
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  • Toronto health officials to announce first 'presumptive case' of coronavirus in Canada
  • 1975 Cases Worldwide; 56 deaths (still about a 3% mortality rate)
  • 18 Chinese cities - 56 million people - quarantined
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Insider Scoop

10 Medical Instruments & Supplies Stocks Moving In Monday's Session

Courtesy of Benzinga

Gainers

Antares Pharma, Inc. (NASDAQ:ATRS) stock surged 3.4% to $4.12 during Monday's regular session.

Losers

NeuroMetrix, Inc. (NASDAQ:NURO) stock decreased by 29.0% to $3.37 during Monday's regular session.

Akers Biosciences, Inc. (NASDAQ:AKER) stock declined 7.8% to $2.95.

Staar Surgical, Inc. (NASDAQ:STAA) shares declined 4....



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Chart School

Top Patterns for Retail Investors

Courtesy of Read the Ticker

Retail investors are last in line for market leading research, no matter, the retail investor can profit from these secret sauce patterns..

Well not so secret now, the main point is you do not have to climb Mount Everest to be called a mountain climber, there are many other hills to climb to make your mark. Just like stocks.

You do not have to battle with the high frequency traders to win in the markets, there are long and slow methods to do just as well.  

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The Technical Traders

The Wuhan Wipeout - Could It Happen?

Courtesy of Technical Traders

News is traveling fast about the Corona Virus that originated in Wuhan, China. Two new confirmed cases in the US, one in Europe and hundreds in China. As we learn more about thispotential pandemic outbreak, we are learning that China did very little to contain this problem from the start. Now, quarantining two cities and trying to control the potential
outbreak, may become a futile effort.

In most of Asia, the Chinese New Year is already in full swing.  Hong Kong, China, Singapore, Malaysia, India and a host of other countries are already starting to celebrate the 7 to 10 day long New Year.  Millions of people have already traveled hundreds of thousands of miles to visit family...



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Kimble Charting Solutions

Bad News For Crude Oil Should Come From This Pattern, Says Joe Friday

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It’s a good idea for investors to be aware of key indicators and inter-market relationships.

Perhaps it’s watching the US Dollar as an indicator for precious metals or emerging markets. Or watching interest rates for the economy. Experience, history, and relationships matter. And it’s good to simply add these to our tool-kit.

Today, we look at another relationship that has signaled numerous stock market tops and bottoms over the years, and especially the past several months, Crude Oil.

When crude oil tops or bottoms, it seems that ...



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Biotech

Snakes could be the original source of the new coronavirus outbreak in China

Reminder: We are available to chat with Members, comments are found below each post.

 

Snakes could be the original source of the new coronavirus outbreak in China

Chinese cobra (Naja atra) with hood spread. Briston/Wikimedia, CC BY-SA

Haitao Guo, University of Pittsburgh; Guangxiang “George” Luo, Univers...



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Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

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The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

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Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

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How IPOs Are Priced

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Funny but probably true:

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Promotions

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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