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Good work, and congrats. FINRA's corporate action office does indeed oversee these things.
However, why DTCC ever sticks its nose into actual rulings is beyond me: they're supposedly in place merely to distribute shares where they're supposed to go. In other words, they *should NOT* be making decisions--they should follow orders.
Really? I would've thought between mine and Jim Bishop's posts you would have been able to work this out.
Anyway, OK, here's the deal. Any given penny can get shuffled off to the greys for lack of trading.
That's *technically* how they get suspended stocks, eh? Once they're no longing trading, whoosh ==> off they go.
However, the difference is, once an issue is booted via an SEC suspension, a lotta regs kick in that market-making firms have to pay attention to, or they can wind up in the hot grease.
Nowadays, same thing can happen from a FINRA "halt." Use to be a halt was much different from a suspension, but for a pennystock that gets halted more than four days, it's equivalent to an SEC suspension.
At least, that's the way it was when I was really active. I haven't been trading much, lately, and am sorta out of the game. If you doubt me, I suggest asking Jim Bishop (who, admittedly, seems to be fishing more than trading these days) or Janice Shell. They both know a bunch about rules 'n regs.
Best,
Tex
Ya, peeps bust Simon for indulging Harris, but I maintain Simon was handing Harris rope. We talked quite a bit, aftershow, beforeshow-and even traded together a few times. By that I mean, we were online at the same time and compared movement, number of trades, etc: He made some good calls, I made some, we both flubbed a few--we were content with each other's style. Certainly, we had no insider info. Or, put it this way, if *he* did? he never tried to influence me; we simply traded runners like a video game. We had several good times together.
lol, I don't know about the eggs...
The deal with gar is something about the meat, it "swells up" inside of you if you cook it like "regular fish." My brother-in-law's dad was a fanatic fisherman and after years of experimenting he finally hit on a method, in which he stripped the meat offa the fish and ran it through a blender, then basically made hushpuppies with it. Said it tasted great.
Too much work for me, especially given how hard they are to skin. It's a serious job.
I've seen them spawning in the Nolan River, near Lake Whitney...looks like the water is boiling. Never seen any that big, though.
I've been away and out of play for some time, now...although I somehow managed a decent round-up that I bought in December and sold, almost by pure luck, in June: not a lot of dough, but the risk/reward was excellent. At any rate, can you please expound upon this trend? I'm trying to catch up...
Thanks
Do some digging--"coming off greys" is different from "coming back from greys, after having a trading suspension."
Yeah--we know of about four.
It's a very involved process, and most simply don't make it.
A slavetrader who repents ("Amazing Grace")
He filed SEC forms, showing sales that totaled about $6 to $7 million, as I recall. I don't remember the exact figures anymore, but back in the day I had a lazy Sunday afternoon and went through the filings and added 'em up...
He was quite a bit thinner in the face back then, compared to the recent mug shot.
For sure. Priceless...what an image, to savor.
We use to laugh about it--Simon believed he was letting Harris choke himself with his own rope.
too damn funny--wish I coulda see that...
I imagine his wife rather insisted...
Ya...
I remember, lol. You were even going to bring Harris to the board to debate me, personally. As I recall, his excuse for not showing was the login was too complicated, right?
Too funny...
I'm going back through the thread and reading in order, so I know about Harris taking a powder, but don't know what's happened since. It's like catching up on an old, favorite TV show.
So, basically, nothing's changed?
Catching up, late: Is this a sticky? It should be.
lol, delay, delay, delay...
Statistically speaking, the best hope here is federal intervention, civil (SEC) or criminal (DOJ). I see no evidence of the will and wherewithal to muster--not to mention, sustain--a viable class action.
Some of those, you call the bomb squad...
Pretty kewl...wonder how much practice that took?
Sounds as though you guys got it figured out.
Best wishes,
Tex
Heckuva post.
I hope that disgorgement order obtains.
Staring to reel it in, my take
Huge surprise
pure fantasy
Sometimes people buy 101 because 1) often brokers get confused 2) terms could change by the time of a) the Def 14 or b) the actual notice in the Daily List.
Of course, there's always a chance the company changes its mind and the roundup provision is removed.
That being said, as written in the Pre14c, one share gets 100.
Could be.
But with no bid/ask, it's all pretty much guesswork.
Nope. All any given broker-dealer can do is match orders or submit an order for its own account. No solicited orders can be offered.
Jeebus--like fighting a cockroach infestation...
Now, some other "Astrom" will have to carry water.
What would help this stock is the truth:
Cough up the accurate financials, and get a broker-dealer to sponsor a Form 211 so it can get off the greys. Any other route or action is shenanigans...
nope. but it sounds good.
Good post.
FINRA arb processes are geared toward actions against brokers, not companies.
Actually, the problem is the cost of getting an attorney. Dupers count on that...
Sure am getting a bunch of e-mails about playing options...
just sayin'
No, it's just a screw-up, most likely. Lottsa times these jokers try a roundup to be effected by "the record date" and learn later that they have to go by the ex-date.