[OMGitworks]

My guess is fat fingers or someone checked the wrong box (market order) to place the trade and didn't monitor it or knew they weren't going to be around at the end of the day and wanted in perhaps looking for a fade at close?. That is a big jump of faith for BBRY on ER day and it looks like someone overpaid a bit. .It could have been worse too. I don't get the trade but there is a lot I don't understand.

[Shanerredflag]

I have a few comments about today's disastrous day for us BBRY shareholders, so please indulge me.

I'm naturally seething with anger at how the stock price had tanked given the largely positive ER, but I'm not entirely sure that it would be logical to blame the system (shorting billions worth of this stock), or the media.

Instead, I'm afraid that I am blaming the company itself for having incompetent management and lack of any substantial PR efforts. I think it goes without saying that last week's US launch of the Z10 was a fiasco. Sure, we could blame AT&T for not promoting the phone enough, but I think ultimately it was Blackberry that blew it big time with not committing enough resources to marketing their crucial new product. I mean seriously, how can they be so nonchalant with launching a do-or-die product for them in arguably the most important (or at least highest profile) market? We all know how the market responded to this half-assed effort. I don't think the media had to exaggerate much that it was in fact a poorly handled launch.

As for today, the CEO went through his talking points, but he was vague and evasive in his answers to very specific and fair questions. I mean in a situation where there is a lot of mistrust for a company that failed to maintain their market share, took their sweet time innovating while other companies ran circles around them (and stealing huge chunks of their customers), you can't really expect the investors at large to have a lot of confidence. I frankly didn't see anything from TH that was truly inspiring to entice a large number of investors, many of whom got burned by RIM in the recent years, to come back.

I could go and on, but let me just finish that I'm mostly angry at myself for not doing more due diligence and betting on a stock of such a poorly ran company. I really want them to do well, and my own money is riding on it, but I'm not exactly feeling warm and fuzzy about holding this dead stock right now.

Excuse me now while I throw up a bit...

Sooo...you've turned a global tech company around in three quarters have you?

What's that saying about walking in others shoes before you judge them?

[silversun10]

Oh, interesting... I missed this two pages above, but silversun10 maybe gave us the reason for the 2% jump. He said "markets on close, it happens every day in Toronto" [i.e. on the TSX] and linked to Market On Close | TMX Group

Here's another page Market on Close Order - What Does It Mean? and here's another Market on Close Order - What Does It Mean?

I have to confess, however, that I don't see how that explains it. From what I've just read, "market on close" orders are by definition made at the market price, as close to the end of the day as possible. If the market price in question is the price at the time of the trade, then it should never jump 2% instantly like that, should it?

To the experts (or silversun10, if you'd care to elaborate on this): is the "market on close" mechanism the likely reason for this?

before the end of trading, the last half hour or something some of the big players let the exchange know how much they want to buy or sell on the "market on close" program and then a match is made against a price that trades the highest number of shares, it happens daily with a whole list of companies on the TSX.
in short these are just shares traded according to regular procedures and so don't worry, don't sweat the small stuff. it has been some while i read the details,
but that is how it works, as i remember it.

[BThunderW]

Only till I unload my calls. Giving it next week to get some gains or dumping it all.

Hey Thunder, since things didn't go as planned today, are you sticking around a bit longer now?

[peter9477]

in short these are just shares traded according to regular procedures and so don't worry, don't sweat the small stuff. it has been some while i read the details,

So it makes sense to you that this could happen at 2% up rather than at the market price at the moment of closing?

I got the distinct impression from the gibberish explanations I tried reading on various sites, that the idea was specifically that this was used to guarantee you could buy/sell a block of shares before trading closed, but that it would always be at the market price as of closing.

[rampagingpanda]

Anyone else buy more shares today, I did and lowered my average to 14.77 on the TSX

I would caution on the averaging down so frequently on small movements. Made a huge mistake in the past doing just that and running out of capital to average down when it crashed

[Charles Martin1]

Who's the balding guy with the huge head and annoying lisp on BNN? Really crapped all over BBRY this evening. Canadian and yet bashes the company making an amazing turnaround. Boggles my mind...

[Shanerredflag]

Who's the balding guy with the huge head and annoying lisp on BNN? Really crapped all over BBRY this evening. Canadian and yet bashes the company making an amazing turnaround. Boggles my mind...

I know...that's what we have to get past, couple quarters more yet I'm thinking...then up up and away.

[Charles Martin1]

If you had easy access to the quality of wine that that gentleman drinks (and shares generously, I should add) you would be intoxicated right now too!

Lol...nah. I've got all the quality booze I need. There's not much that can't be accessed easily in this world my friend.

[Charles Martin1]

So it makes sense to you that this could happen at 2% up rather than at the market price at the moment of closing?

I got the distinct impression from the gibberish explanations I tried reading on various sites, that the idea was specifically that this was used to guarantee you could buy/sell a block of shares before trading closed, but that it would always be at the market price as of closing.

Yip, on this stock I like to buy more after a drop of $2 or more, although I did find I was getting carried away for a little while.

[bungaboy]

I have had my three drinks and am now ok with today. Sort of...

Kinda? LoL

[Charles Martin1]

I know...that's what we have to get past, couple quarters more yet I'm thinking...then up up and away.

Yeah, young blockhead probably been bragging to his buddies or wife about how he was going to clean up by shorting BBRY. Now he's shattin himself in embarrassment as a he's a blowhard that's having this thing backfiring on him.

[slipstream89]

I dont see the tsx being closed on monday?

2013 Stock Market Holidays - Stock Markets Closed

New Year's Day - January 1, 2013
Family Day - February 18, 2013
Good Friday - March 29, 2013
Victoria Day - May 20, 2013
Canada Day - July 1, 2013
Civic Holiday - August 5, 2013
Labour Day - September 2, 2013
Thanksgiving Day - October 14, 2013
Christmas Day - December 25, 2013
Boxing Day - December 26, 2013

[OMGitworks]

First post from z10 and Crackberry App. Carry on!

Posted via CB10

[Charles Martin1]

Kinda? LoL

Lol! I've got to admit that I'm still surprised by it all though.

[Charles Martin1]

I dont see the tsx being closed on monday?

2013 Stock Market Holidays - Stock Markets Closed

New Year's Day - January 1, 2013
Family Day - February 18, 2013
Good Friday - March 29, 2013
Victoria Day - May 20, 2013
Canada Day - July 1, 2013
Civic Holiday - August 5, 2013
Labour Day - September 2, 2013
Thanksgiving Day - October 14, 2013
Christmas Day - December 25, 2013
Boxing Day - December 26, 2013

Really? Easter Monday. I thought it was a national holiday.

[Shanerredflag]

First post from z10 and Crackberry App. Carry on!

Posted via CB10

So lets get that keyboard workin...tell us how you like it.

[OMGitworks]

Not in the (evil) US !

Posted via CB10

[Charles Martin1]

Only till I unload my calls. Giving it next week to get some gains or dumping it all.

Man, not sure there's going to be gains right away after the hatchet job that's underway by virtually every single media outlet on the continent.

[slipstream89]

I don't think so, its usually good friday because not everyone celebrates easter but I don't really know the reason haha. Just dont want people to miss out on monday trade because people thought they were closed :P

[Charles Martin1]

Not in the (evil) US !

Posted via CB10

Bahaha...the US(SR)

[Charles Martin1]

I don't think so, its usually good friday because not everyone celebrates easter but I don't really know the reason haha. Just dont want people to miss out on monday trade because people thought they were closed :P

Yeah for sure.

[silversun10]

So it makes sense to you that this could happen at 2% up rather than at the market price at the moment of closing?

I got the distinct impression from the gibberish explanations I tried reading on various sites, that the idea was specifically that this was used to guarantee you could buy/sell a block of shares before trading closed, but that it would always be at the market price as of closing.

normally it is at the market close, but if the market moves quickly it is off by a little and today it looks like the 15.09 was the only price the deal could get done, so whatever the
reasoning, the bottom line is it does not matter, the market will take Nasdaqs lead again on Monday, but is was fun to see the big spike of course,
almost 24 mln shares traded on Canadian the exchanges today, so the last minute trade is a drop in the bucket

[OMGitworks]

Getting use to it, but WAY better than any other touch keyboard I've seen. Flick typing is pretty cool. They may be on to something here!

Posted via CB10

[Bbnivende]

That sounds like a plan. It would be a good day to end my strike. I can only hold a grudge for so long.
Okay, striks over, who are we playing, how are we doing, are we gonna make the playoffs, do we have any injuries?
Go Leafs Go



Attachment 144748

I love going to see the Leafs play in Ottawa. You can't get seats like this in TO. And there is more Leaf fans than Sens fans. It's worth the drive.

Have masochist will travel.