OCPNY: sold today

The price of the double silver ETF ADR for Olympus Corporation (NYSEARCA:OCPNY) gapped down at the open below my stop market limit and was sold at USD 7.25, resulting in a loss of 16% in an average of 5 days.

It looks bad for OCNY

In Tokyo, the price for Olympus Corporation (TYO:7733) fell again today by 16% and closed at JPY 625. I expect therefore that for the ADR for Olympus Corporation (NYSEARCA:OCPNY) my stop market limit will be reached today.

OCPNY: stop market sell order

Seeing the price of the ADR for Olympus Corporation (NYSEARCA:OCPNY) drop I give a stop market sell order with a limit of USD 8.95.

OCPNY: bought today

I bought some more ADR for Olympus Corporation (NYSEARCA: OCPNY) today at USD 10.90

OCPNY: bought today

I bought the ADR for Olympus Corporation (NYSEARCA: OCPNY) today in the USA at USD 6.90

Olympus Corporation, Japan

Olympus (TYO:7733; NYSEARCA:OCPNY) has been hit by a scandal and the company yesterday admitted fraudulent accounting (http://goo.gl/2YwKK; http://goo.gl/LmkpJ). The share price dropped in Tokyo from JPY 2,526 on 13 October to JPY 584 on 8 November, a decline of 77%. For the ADR traded on the pink sheet in the USA, the price fell from USD 32.10 on 13 October to USD 9.05 on 8 November, a drop of 72%

I plan to keep an eye on Olympus and look for a good moment to buy it.