Stink Bids

Discuss your favourite picks, broker, and trading or investment style.
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EmperorCoder
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Post by EmperorCoder »

The problem with stink bids, is that they might get filled on a VERY bad news for the company. And the stock may continue is fall further off your stinky purchase price if you're not watching the stock every minute (which is usually the reason you placed a stink bid in the first place).

They are very dangerous beasts. Got bitten once in the past, I don't rely one them anymore.
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Peculiar_Investor
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Re: Stink Bids

Post by Peculiar_Investor »

I casually keep an eye on a number of preferred shares that might be worthwhile to add to my Rate reset preferred share ladder?. One such name is MFC.PR.K, which had an interesting trading pattern yesterday
MFC.PR.K stink bid.JPG
Source: Yahoo! Finance.

It opened at $22.59 on volume of 400 shares IIRC, nice stink bid someone.
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adrian2
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Re: Stink Bids

Post by adrian2 »

Peculiar_Investor wrote: 24 Jan 2018 09:43 I casually keep an eye on a number of preferred shares that might be worthwhile to add to my Rate reset preferred share ladder?. One such name is MFC.PR.K, which had an interesting trading pattern yesterdayMFC.PR.K stink bid.JPG
Source: Yahoo! Finance.

It opened at $22.59 on volume of 400 shares IIRC, nice stink bid someone.
You made me curious enough to check level II quotes on it:
- $23.80 bid
- 7 more bids more than $23 under it
- $22.69 bid from TDDI for 700 shares
- $22.62 bid from TDDI for 1200 shares
- $22.61 bid from TDDI for 1000 shares

I'm too lazy to put another bid myself from TDDI. :)

As for the lucky stink bid:
09:30:03 100 shares @ $22.59
09:30:04 100 shares @ $22.99
09:30:06 100 shares @ $23.00
09:30:16 100 shares @ $22.59
14:56:03 100 shares @ $23.74
...
Last edited by adrian2 on 24 Jan 2018 11:37, edited 1 time in total.
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Peculiar_Investor
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Re: Stink Bids

Post by Peculiar_Investor »

adrian2 wrote: 24 Jan 2018 11:32 You made me curious enough to check level II quotes on it:
- $23.80 bid
- 7 more bids more than $23 under it
- $22.69 bid from TDDI for 700 shares
- $22.62 bid from TDDI for 1200 shares
- $22.61 bid from TDDI for 1000 shares
I just might be one of those :wink: Don't think that lightning will strike twice and allow stink bids to succeed two days in a row, but what the heck, it doesn't cost anything to try.
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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