SP today

[Mountainbiker]

GOMO had good numbers and the CC which I listed to was ok. Why such a drop?? It appears to me that most Chinese names again are being hit due to quarter end portfolio dressing, profit taking??

[js253]

GOMO had good numbers and the CC which I listed to was ok. Why such a drop?? It appears to me that most Chinese names again are being hit due to quarter end portfolio dressing, profit taking??

There is an element of Chinese ADRs being weak in general, but NQ definitely has stock specific issues. I also don't believe GOMO has anything to do w/ NQ's drop, the two never trades in tandem.

[dietberd]

Basically, does anyone have any idea what is happening here? Down more than 7% on no news??

[kshen]

Looks a player is getting out more than anything. You wouldn't be able to depress the price that much otherwise.

Anyone have a bloomberg? did this hit short sale trigger?

[dietberd]

Agree - must be a major holder selling, no real other explanation for this.

[Mountainbiker]

Looks a player is getting out more than anything. You wouldn't be able to depress the price that much otherwise. Anyone have a bloomberg? did this hit short sale trigger?

Just checked. Short Sale rule in effect at 12:07 pm.

[dietberd]

Mountainbiker - I suspect that means most of the selling was done by shorts rather than longs exiting. I am interpreting this correctly?

[Mountainbiker]

Mountainbiker - I suspect that means most of the selling was done by shorts rather than longs exiting. I am interpreting this correctly?

Yes!!! Bought some call options myself.

[TrueValueSeeker]

-1.71 Million outflow. Many short than long.
http://quotes.wsj.com/NQ

[kshen]

I switched some shares for calls.

Looks like the chatter is all about this.
http://www.twitlonger.com/show/n9n713