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Old 10-28-2011, 02:31 PM
 
5,102 posts, read 4,811,608 times
Reputation: 1665
Default anyone toying with MF Global?

MF

The stock is all over the place last couple days. High $2.15 and low 99 cents.

Anyone involved with this speculative issue?
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Old 10-31-2011, 12:56 PM
 
40 posts, read 99,946 times
Reputation: 28
What happen to me as I have just bought MF shares last Friday. And today it was halted. Did I loss all of money?
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Old 10-31-2011, 04:05 PM
 
12,364 posts, read 5,963,507 times
Reputation: 1945
I just found out about 20 minutes ago that MF Global filed bankruptcy. They are going out of business. And I have an account with them.
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Old 11-01-2011, 10:09 AM
 
3,335 posts, read 1,193,733 times
Reputation: 918
Quote:
Originally Posted by Mike555 View Post
I just found out about 20 minutes ago that MF Global filed bankruptcy. They are going out of business. And I have an account with them.
Sorry, they've MISPLACED a couple hundred Billion dollars... ooopsy.

Check Corzine's mattress in Madrid.
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Old 11-01-2011, 11:31 AM
 
Location: Pasadena, CA
4,820 posts, read 4,522,009 times
Reputation: 3048
Already got burnt with Lehman (even though only invested pocket change)

Not gonna try that again..
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Old 11-01-2011, 02:04 PM
 
40 posts, read 99,946 times
Reputation: 28
MF Global:

"The stock hasnít traded during regular hours since Oct. 28 "

What does it mean? I'm not clear. Please make me clear. Thanks
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Old 11-01-2011, 04:54 PM
 
Location: Warwick, RI
1,834 posts, read 2,025,861 times
Reputation: 2636
Quote:
Anyone involved with this speculative issue?
No. MF Global has filed for bankruptcy, shareholders will be wiped out, and it sounds like someone's going to jail.
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Old 11-02-2011, 11:56 AM
 
5,102 posts, read 4,811,608 times
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Quote:
Originally Posted by pdca View Post
MF Global:

"The stock hasnít traded during regular hours since Oct. 28 "

What does it mean? I'm not clear. Please make me clear. Thanks
It is trading, starting today, under the symbol of MFGLQ on the pink sheets.
Opened at .299 and traded as high as 33 cents.
I guess the shorts covered, etc. or some people bought it, hoping shareholders will get something more than 30 cents per share. I bought last Friday at $1.19 and trying to sell for 29 cents.

It is .2175 as of this minute.

It will trade for some days, maybe some weeks, before finally being discontinued.

If someone wanted to make $1000, they could buy 10,000 shares for 1 cent, when, and if, it goes that low, and hope to sell for 10 cents.
The most you could lose would be $100.

I also have a Dec.-Nov. $2 call spread and options are not trading right now. Obviously the value of my spread is zero.
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Old 11-02-2011, 01:09 PM
 
Location: Lincoln, CA
504 posts, read 826,556 times
Reputation: 484
I think the United States Bankruptcy Courts are toying with them now.
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Old 11-03-2011, 12:09 PM
 
5,102 posts, read 4,811,608 times
Reputation: 1665
I sold for .295, so $1190 turned into $290.

The stock is trading, if you need to get out.

There is actually a bid and ask on the January and June $1.00 calls, so there are some people who think the common stock could be over $1.00 by then.
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