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RSV-P reserved a seat...
ld-pp still looks like a good gamble around here
the wild west can't last forever. but maybe it'll just move / adapt
nah cant be that bad. sounds like a lot of paranoia. maybe the penny market will suffer but someone will come to fill the void i bet. there are lots of brokers still trading subs, shells, penny's etc with no problems... people will probably just move. penny nomads. not so concerned about transparency as i am about opportunity. hopefully more and more will come by but things are slow.
well it seems to only be penson. boo on them
anyways here's s'more on that and i'll conclude the topic for me for today lol
"
There is no formula to determine how Penson’s deposit withholding requirement will be calculated.
As a client, you just want to make sure you do not come close to doing more than 25% of the average daily trading volume so that the $50,000 deposit withholding is not an issue for your trades.
If a client sells more than 25% of the average daily volume of any 3 business day
settlement cycle (including the current trading day) of any stock trading below $1,
Penson incurs an NSCC deposit withholding on their side. This is not a fee or charge
to the client's account. However, if they are withheld more than $50,000 as a result
of any client's trade, they will buy the trade back in the client account the next business
day. If that scenario happens 2 times in one client's account in any 90 day period, they
will freeze that clients account. This only relates to selling illiquid stocks, not buying.
"
it is absurd and possibly quite dangerous to sell illiquid cr@p now through penson. gotta figure out more details tho to see exactly what the repercussions might be ie how exaclty the multiple is figured out etc
i mean who has 1/2 a mill sitting in the account just to be allowed to sell like 4k worth of crap without getting bought back in on a potential 400k call ....
lol
im just not going to trade sub $1 with penson anymore. its unclear exactly what can happen with them, but the way it sounds lets say u sell a sub $1 stock for $1000, or possibly even just a regular very illiquid stock (irrespective whether its a gain or loss) and you had that stock long in your account. the prior 3 days the stock traded no volume (likely enough scenario)
until the trade settles, since your sell is more than 25% of trading volume some sort of margin hold will probably be placed.
"NSCC Illiquid Deposit Requirement is applied when a customer sells more than 25% of the average daily trading volume of a security during any three day settlement cycle."
since they need funds in your account (god knows why - i guess they dont trust settlement processes of sub $1 stocks) they may margin call u
"generally at least ten times the trade value and may be one hundred times the trade value, or even more"
given the sentence above it could be 10 x your $1000 influx from the trade - ie $10,000 in cash needed in account till trade settles or up to 100 x or more it says so u may need $100,000 + in cash in your account until the trade settles, and the way it reads t hey threaten to sell you cr@p to get some of those funds if you do not have that cash just sitting there until the trade settles, or buy back the shares of the illiquid security u sold to negate the deposit requirement.
"If a customer creates an NSCC Illiquid Deposit Requirement greater than $50,000, the offending trade or trades will be bought in on T+1, with notice through customary channels."
so if that amount of cash needed untill trade settles is more than $50,000 they say they will buy the shares back after notifiying you ofc ...lol
if youre a bad boy and do it twice.. then
"If a customer creates a second NSCC Illiquid Deposit Requirement greater than the $50,000 in a ninety day period, in addition to the buy-in, the customer account may be subject to closure for ninety days. "
im going to try and steer clear of penson, especially for sub $1.
disclosure: not 100% of any of that.
penson is really going downhill.. will load the boat at 0.001 on pn-sn lol
us=bk on some early volume
smfh. the way it reads they can margin call u over a sell worth not very much... A- wholes
jeez penson
Dear Client,
We have recently been made aware of a policy change by our clearing firm, Penson Financial Services.
An NSCC Illiquid Deposit Requirement is applied when a customer sells more than 25% of the average daily trading volume of a security during any three day settlement cycle. The amount of this Deposit Requirement depends on the percentage of the Average Daily Volume represented by the open sales. The Deposit Requirement has very little relation to the value of the trade, and is generally at least ten times the trade value and may be one hundred times the trade value, or even more. This Deposit Requirement is incurred even if the customer owns the shares and even when Penson has these shares long in its DTC account. The Deposit Requirement is imposed during the time period between trade and settlement date.
Penson is therefore changing its policies, effective August 16, 2011, regarding the trading activity of securities priced under $1.00 ("low priced security").
If a customer creates an NSCC Illiquid Deposit Requirement greater than $50,000, the offending trade or trades will be bought in on T+1, with notice through customary channels.
If a customer creates a second NSCC Illiquid Deposit Requirement greater than the $50,000 in a ninety day period, in addition to the buy-in, the customer account may be subject to closure for ninety days.
This is not a change xxxxxxxxxx has made; rather, this change has been imposed by Penson in reaction to the NSCC's recent imposition of increased deposit requirements. As a result of this change, it is recommended that you refrain from selling large blocks of stocks priced less than $1.00. We apologize for the inconvenience that this change may present to some of our customers.
If you have any questions, please feel free to contact us.
.....
LD.PP rocket cow! Website: http://www.londonpacificgroup.com
Business Description
With offices in Los Angeles, Salt Lake City, London and Mumbai, London Pacific & Partners, Inc. is an international private equity and corporate finance investor and advisor focused on the transformation of undervalued and growth companies in the healthcare, hospitality, and financial services sectors. The Company's website address is www.londonpacificgroup.com.
Shares Outstanding 93,845,130 a/o Apr 30, 2011
Float 19,043,307 a/o Apr 30, 2011
could be good for some cheapies on some sell off volume today
looks good for cheapies on this dump
well maybe if u call in theyll take it with online rate. here's what they replied to me
"I am not sure why this is not allowing you to trade, but if you call us at 800-669-3900 we can place the trade for you at the online rate."
nobody there on the front lines knows sh!t about this cr@p lol
ur-bt piled sum
weird. they can't access NITE? hmm well we'll see if it's worthy or not. as always a pleasure :)
axios opp?
AX-I-u opportunity for the 10 for 1 split
post your killer picks?
not?
win-win with WN..WN - everybody loves winning!
CA-SG some hits
up on air
fs-rx could be an ok grab here
AV-'SEA'-P some info in i-box apparently looking to acquire or merge with something..
http://investorshub.advfn.com/boards/board.aspx?board_id=5195
"
Advantage Capital Development Corp. (PinkSheets: AVCP) Harbour Center 19066 NE 29th Avenue Aventura, Florida USA WebSite: http://www.advcapdev.com Phone: (305) 749-1186 BUSINESS DESCRIPTION: Advantage Capital operates as a Business Development Co...specifically to meet the needs of small and emerging Co's needing capital to grow...Business development Co's, as defined under the Investment Act of 1940, are specifically designed to encourage the growth of small businesses...The rules provide certain financing advantages for Co's that Invest in small and emerging businesses...As a result, this will include investing in both public and private entities using certain types of debt and equity financing not normally available to other public Co's... Advantage Capital's financing activities are carefully focused on three major categories of Investments: 1) Investments in existing small public Co's in the form of secured convertible debenures in the $200K to $750K range with an acceptable exit strategy... 2) Investments in private Co's that can be incubated and then spun-off into independent or stand alone public Co's, also with an acceptable exit strategy... 3) Special situation investments in either private or public Co's that are secured and opportunistic... The Co has elected to pursue what it believes to be an opportunity within the market for meeting the short and medium term financing needs of small private and public Co's...It's well positioned to meet those needs by utilizing a variety of financing structures while trying to acheive returns in excess of risk adjusted market returns... Primary State of Incorporation: Nevada Country of Incorporation: USA Officers: Jeff Sternberg, President/CEO; David Goldberg, Dir.; Craig Press, Dir. Fiscal Year End: March 31 CIK: 0000054175 Outstanding Shares: 19,900,000 as of 2006-08-29 Number of Shareholders of Record: 1,698 as of 2005-07-14 Current Capital Change: shs decreased by 1 for 10 split Pay Date: 2004-09-01 SHARE STRUCTURE (9/10/07) ~~ * 5B Authorized * 20M Outstanding * 5.4M Restricted * 14.6M Float * per Pacfic Stock Transfer (702) 361-3033 COMPANY LINKS ~~ Co WebSite: http://www.advcapdev.com SEC Fiings: http://www.pinksheets.com/quote/filings.jsp?symbol=avcp CHART: http://stockcharts.com/def/servlet/SC.web?c=avcp KNOBIAS RADiAR: http://www.knobias.com/individual/public/quote.htm?ticker=avcp LEVEL II (delayed): http://partners.microcaptrade.com/export/level2.jsp?symbol=avcp
"
looks cheap here
A+Ari 2.5x3
$1.0500 500 OBB 06/30
$1.0500 1,000 OBB 06/30
$1.0500 500 OBB 06/30
$2.0000 350 OBB 04/29
$3.0000 350 OBB 04/28
$0.2500 330 OBB 12/10
4.7 m os
could be an organized pump with IS-dn ... not long ago around 12 million traded... more than ever on any day by a lot... then since then slowly moves up on nothing volume. interesting...
yes. basically if i click 'favorites' it shows less messagies which is incorrect. in fact most links i hit shows 99 messages. then if i click 'data tools' it shows 103 which is correct as i see it.
my mailbox alternately shows one number, then another. i never deleted anything. is this part of the upgrade which will be resolved?
ISD-N some hits
Dl-Gi could be worth some gamblin' money in this range
definitely looks good! xc-ho also worth a look on cvs lawsuit
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8039658
back to the otcbb....
http://otcbb.com/asp/dailylist_detail.asp?d=07/12/2011&mkt_ctg=OTCBB
seems like a good speculative bargain for the gambler in me
us-bk could be ok on bid for some pilers
wn-wn bi-winning with some volume
LD=PP seems cheap http://www.londonpacificgroup.com
Business Description:
With offices in Los Angeles, Salt Lake City, London and Mumbai, London Pacific & Partners, Inc. is an international private equity and corporate finance investor and advisor focused on the transformation of undervalued and growth companies in the healthcare, hospitality, and financial services sectors. The Company's website address is www.londonpacificgroup.com.
Share Structure:
Market Value: $281,535 a/o Jun 30, 2011
Shares Outstanding: 93,845,130 a/o Apr 30, 2011
Float: 19,043,307 a/o Apr 30, 2011
Authorized Shares: 200,000,000 a/o Apr 30, 2011