KNIGHT SAYS TRADING OUT OF POSITION YIELDED $440M PRETAX LOS [NotSoBreaking]

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User Info	KNIGHT SAYS TRADING OUT OF POSITION YIELDED $440M PRETAX LOS in forum [NotSoBreaking]
Bearshort Posts: 4478 Incept: 2007-09-13 NYC Online	KNIGHT SAYS TRADING OUT OF POSITION YIELDED $440M PRETAX LOSS HOLY **!!!!!!!!!!! ---------- "How long to the point of know return?" Enemies of the State: Bernanke, Geithner, Frank, Dodd, Greenspan, Paulson.** 2012-08-02 08:19:20 Permalink
Argos Posts: 6315 Incept: 2008-03-23 The Green Mountain State	Oh dear! KCG down some 41% at the moment. 2012-08-02 08:21:30 Permalink
Genesis Posts: 130710 Incept: 2007-06-26	Ok, I'll buy that for a quick flip ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-02 08:33:58 Permalink
Ben Posts: 6198 Incept: 2009-10-09 The Distant, Glorious, Past	When algos go bad... ---------- "Why are you going to learn French?" "Because I'm going to France," says Joe. "I'm from the future. You should go to China." 2012-08-02 08:48:52 Permalink
Lplate Posts: 4737 Incept: 2008-08-06 Australia	Quote: Knight seeks financing after $440 million trading loss http://www.reuters.com/article/2012/08/0.... Thu Aug 2, 2012 Trading firm Knight Capital is being forced to raise money after an erroneous trading position wiped out $440 million of the firm's capital, Knight said in a statement on Thursday... 2012-08-02 09:18:44 Permalink
Genesis Posts: 130710 Incept: 2007-06-26	Up 15% on the position so far Yes, I have a stop set.... I'll take it back off before I lose the gains. But if it goes up another buck... oh boy. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-02 09:20:38 Permalink
Lplate Posts: 4737 Incept: 2008-08-06 Australia	No shortage of rumors flying around atm Knight on bloomberg tv http://www.bloomberg.com/tv/ 2012-08-02 10:07:08 Permalink
Mayorquimby Posts: 13909 Incept: 2008-09-18 The Archaic Past	Yeah Karl. Was going to go long at 3.30 but was getting off bus and on to subway. Missed out on a biggie. ***. ---------- They who wish to hurt you, work within the law. - Morrissey Gold is theft. Last modified: 2012-08-02 10:09:09 by mayorquimby 2012-08-02 10:08:35 Permalink*
Lplate Posts: 4737 Incept: 2008-08-06 Australia	Quote: http://www.reuters.com/article/2012/08/0.... Knight has already approached JPMorgan for emergency funding, according to a report on Fox News. But it was unclear if that funding would be granted. A spokeswoman for JPMorgan declined to comment. 2012-08-02 10:15:10 Permalink
Argos Posts: 6315 Incept: 2008-03-23 The Green Mountain State	That BBTV interview with CEO Tom Joyce recalled the fact that Knight was critical of Nasdaq's mishandling of the Facebook IPO. What goes around comes around? Here's what I believe is the lastest on the Knight-Nasdaq-Facebook front: http://www.nasdaq.com/article/knight-cap.... Last modified: 2012-08-02 10:27:57 by argos 2012-08-02 10:27:22 Permalink
Zarathustra Posts: 5953 Incept: 2009-04-29 Funkytown Online	Cue the Rally Algo!!!!!!!!! ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-08-02 10:29:10 From PDA Permalink
Mayorquimby Posts: 13909 Incept: 2008-09-18 The Archaic Past	I think this rally is to be faded. ---------- They who wish to hurt you, work within the law. - Morrissey Gold is theft. 2012-08-02 10:30:47 Permalink
Zarathustra Posts: 5953 Incept: 2009-04-29 Funkytown Online	That's CRAZY talk, Mayor! Buy, BUy, BUY!!!!!!!!!! ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-08-02 10:33:37 From PDA Permalink
Mayorquimby Posts: 13909 Incept: 2008-09-18 The Archaic Past	SH!!! SDS!!!! FAZ!!! ---------- They who wish to hurt you, work within the law. - Morrissey Gold is theft. 2012-08-02 10:35:09 Permalink
Guyfawkes Posts: 444 Incept: 2008-09-19 Texas	EDIT: Removed link to ZH post after Karl's comment. Last modified: 2012-08-02 10:51:49 by guyfawkes Reason: Karl's post that ZH comment was incorrect 2012-08-02 10:42:08 Permalink
Drench Posts: 28631 Incept: 2009-11-10	CNBC is about to have a panel to tell us "what this might do to investor confidence." 2012-08-02 10:43:23 Permalink
Mayorquimby Posts: 13909 Incept: 2008-09-18 The Archaic Past	I know Knight clears for Fidelity. ---------- They who wish to hurt you, work within the law. - Morrissey Gold is theft. 2012-08-02 10:44:01 Permalink
Genesis Posts: 130710 Incept: 2007-06-26	Quote: Now that Knight Capital is the clearing agent for these futures accounts, what happens to all of the futures accounts for these 10+ online brokerages, including popular ones such as ToS... Knight does not clear for TOS. Ameritrade is their own IB now. This is one of the (many) reasons I don't read ZH any more. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-02 10:45:56 Permalink
Asimov Posts: 103939 Incept: 2007-08-26 East Tennessee Eastern Time	Quote: Quite soon we may find out what it means to trade in a market which has just lost one of its key market makers, responsible for up to 15% of overall liquidity. http://www.zerohedge.com/news/knight-ceo.... That may be the root cause of the smaller stack I'm seeing today. Bid and ask running about 9-10k right now, normally would be 12-13k. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-08-02 10:51:46 Permalink
Guyfawkes Posts: 444 Incept: 2008-09-19 Texas	Karl wrote.. Knight does not clear for TOS. Ameritrade is their own IB now. Thanks - I removed the link and post above. 2012-08-02 10:53:01 Permalink
Asimov Posts: 103939 Incept: 2007-08-26 East Tennessee Eastern Time	Guy: That was a comment on an article, wasn't it? ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-08-02 10:53:38 Permalink
Genesis Posts: 130710 Incept: 2007-06-26	The problem with this sort of **** is that the people slinging it obviously don't trade on TOS, because everyone who does (myself included) got a whole host of documents related to our futures clearing when the Penson crap went on and our clearing was moved. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-08-02 10:59:34 Permalink
Asimov Posts: 103939 Incept: 2007-08-26 East Tennessee Eastern Time	Yup. Same here. That's one upside to the buyout. TDA does have their **** together (or seems to anyway) on that side of things. I never did trust pension. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-08-02 11:01:59 Permalink
Guyfawkes Posts: 444 Incept: 2008-09-19 Texas	Asi: yeah, it was from one of the comments on the article. I don't use ToS but I knew many here did which is why I posted it. 2012-08-02 11:15:15 Permalink
Drench Posts: 28631 Incept: 2009-11-10	Knight in talks with Virtu Financial, Silver Lake Partners CNBC: WSJ Last modified: 2012-08-02 12:40:58 by drench 2012-08-02 12:40:06 Permalink

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Karl wrote..