Curious why stocks suddenly took on extra water in the past few minutes? This:
- SAC CAPITAL SAID TO PLAN INVESTOR CONFERENCE CALL TOMORROW - BBG
As a reminder, SAC is and has been for the past 10 years arguably the largest buyside market maker, and the firm which now that it has no more Expert Networks to lead to "excess alpha" is forced to slam stops in the market, primarily to the upside, and crush all shorts during times of peak shorting. Should SAC be forced to scale its operations lower, one thing is certain: the farce formerly known as the market will look very different than it does now.