Margin Call For Someone

Posted by Kris | Thursday, February 28, 2008 | | 0 comments »

I was watching APPLE Corp (AAPL) intraday during the huge sell down on Jan 2008. Cannot remember which day though.I was quite shocked actually to see the price drop so drastically in a single huge block (red triangles) and the selling was done way way below the buyer's price. On the same day, I also saw a few Dow Jones blue chip stocks having similar pattern. Heavy selling in a single huge block at subpar price.
This lead me to assume that the selling occurred probably because of margin call, surely not typo error when keying the price, because lightning does not strike the same spot thrice.
If it is a typo error, please feel very sorry/pity for that poor fellow. He just burned a few million USD in a single day.