“I’m buying coz everyone is talking about it…”
We note that, according to Reuters, the IPO is 30x oversubscribed, and bear in mind that banks have advised internally to cancel all limit orders that are over 15% below the NBBO. Which means keep a trailing limit order at 14.99% or less below the NBBO in case of ‘market events’.
We are sure, given all these ‘extra’ rules that greed will take a back seat, that the machines will cross their arms and wait patiently, and that TWTR will open just as CNBC’s Bob Pisani hoped – higher with a gentle drift higher all day… </sarc>
(h/t @MWellerFX)
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/rtCaxmvp1gI/story01.htm Tyler Durden