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Date: 04/15/2009 15:32

Forum: Wall Street Pit - Msg #1599684 - List FAZ msgs

Thread #672574487 (Rec: 0)

Trader takes his own life...(Article)

Reuters- A recent laid off stock broker took his life on what was suggested a series of desperate trades that wiped out his account. 24 year old Matt McCay reported dead yesterday at 2 a.m. from self inflicted gunshot wounds.

Police had noted that McCay's apartment was filled with stock information and printouts from a website by trader and wall street personality Timothy Skyes whom McCay was said to emulate in mannerisms and trading behavior. McCay's apartment was described as upturned, in chaos and smelling of urine.

McCay was also recently laid off from A.G. Edwards in Muskgogee, OK and according to some he put it all on the line with his last several trades with one of them being FAZ.

FAZ a triple leveraged financial ETF and it's counterpart FAS follow indexed financial stocks and respond violently both positively and negatively in price, sometimes up to 25% in one day.

Mr McCay, was last encountered by family members whom he shared his massive loss story with. Matt's Sister Sharon explained that he was 'going short' and that he 'entered a position of FAZ' in the mid 30s and was sitting at $9 a share the night he took his life.

"He was walking around 'punch drunk'", said his sister.

Another family member put it. "Matt would say something, and then a second later say the very same thing...then wander off for a drink".

Mr. McCay's total loss was not disclosed, but the family said it was between $1000 and $2500 all of which was loaned to him from his grandmother's trust fund that he was going to get full control of by age 32.

Matt is survived by hi sister's Sharon and Camy, and his parents Dan and Cinda.

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