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Trader loses 130k+ on short, owes eTrade 100k


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Trader loses 130k+ on short, owes eTrade 100k

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  #101 (permalink)
prague, czech republic
 
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No idea why Sykes name was mentioned here given his stance on Biotech and this being not OTC but NASD stock, but today there is a cheering in Sykes camp - one of his students posted a long trade in KBIO than made over 100k for her. Apparently Sykes gave a long signal on profitly after that turnaround with Schrkeli.

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  #102 (permalink)
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afranco562 View Post
I always thought any stock below $5 is near getting to be considered a penny stock. Apologize for my lack of education,(and I do meant that) does a stock need to be in OTCBB to be called a penny stock?

I've always only referred to OTCBB listed stocks as penny stocks. Stocks under $5 are of course subject to delisting and becoming a penny stock on OTCBB, so they carry their own risks, but I wouldn't call them a penny stock while they are trading on Nasdaq.

Not sure if this is just me, or a commonly accepted nomenclature.

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  #103 (permalink)
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I never traded US stocks outside of the occasional CFD trade, I was wondering if incorporating a stop was possible with such trade or not ?? Because it seems really stupid to trade without one.

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  #104 (permalink)
New York City
 
 
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I remember this incident.

Anyone ever find out what the end result was for this guy ?


His GF page was closed down soon after. Wondering if E-trade worked things out with him or did he have to liquidate his and wife's 401K.

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  #105 (permalink)
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Posts: 278 since Aug 2013
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Did a little Googling. Don't know if anybody posted this previously in the thread but the GoFundMe account ended successfully. Said he was going to tweet when he got it all settled. At the link is something he posted after the got the money thanking everyone.

Trader calls off appeal for help with $106,445.56 E-Trade debt

Joe Campbell, the trader who asked for help with a $106,000 debt due to a short bet that went wrong, has stopped requesting money on his GoFundMe page.

Campbell has ended his campaign on the fund-raising website after getting $5,310 in donations.

“I’m taking the GoFundMe posting off, over $5,000 is unbelievable and will go a long way towards this debt,” the trader writes on the website. “It is far more than I ever thought I would get by doing this page.”

The GoFundMe page currently shows the campaign had a goal of $5,000 and exceeded it by $310...

Trader calls off appeal for help with $106,445.56 E-Trade debt - MarketWatch

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  #106 (permalink)
New York City
 
 
Posts: 8 since May 2016
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Thanks for the update.

I wonder if he ever got squared away with E-Trade ,being he only collected $5000, which isn't
anywhere near the $106,445.56 E-Trade .

Thanks

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