What is your worst trade ever?AM
Mine was shorting GOE on its triumphant run... I shorted 2600 shares (and would have shorted a fucking lot more if there was locate, there was none thankfully) at 24.80 or so on the way up...
Little background info
GOE was a credit suisse created ETN targeting gold. It came out at $10 a share and was supposed to move in % terms with gold, which was around 1000 an ounce when it debuted. I shorted it at a gold equivalent value of 2450 an ounce.... FREE MONEY ARBITRAGE. Not so much... there were only 50,000 shares of this POS and as such it was a deadly squeeze waiting to happen and I do not doubt that the squeeze was engineered, so kudos to whoever made bank and even more kudos to whoever was able to short it near the top... it ran up to around 121 dollars a share (gold=12,100 an ounce.....) and then CS was like 'lolwtf omg this shouldnt happen!' and then later 'checked out what was happening' and decided to delist it to the pink sheets... and it came crashing back down. i was forced to cover due to t+3 short availability at 48 or so :)
and your deadly downfalls?!