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Or, version II, take your pick:
there once was a bond from Caracas...
whose value had caused quite a FRACAS
It seems that the deal
was never quite real
but cooked up by some criminal crackahs.
Is everybody HAPPY here? heh heh...
There's usually a delayed reaction to news of this kind. In my experience, it takes the market a few days to digest it.
there once were some bonds from Caracas...
whose value had caused quite a raucus
but they vanished, some say
in a very strange way
leaving nothing behind, but some suckas!
there once were some bonds from Caracas...
whose value had caused quite a raucus
but they vanished, some say
in a very strange way
leaving nothing behind, but some suckas!
It's a 'HOLYMOFO' moment, I think
LOL...same here.
Lowtrade, interesting.
I asked her if the new rule was a result of the naked shorting regulations, and she said not really, it was just to help "protct" both the clients and the brokerage houses.
Same difference, huh?
I agree it is a good thing, I just wonder why the BDs are so cautious about saying the real reason out loud.
Yes, this is a period of caution, which is I why I wanted someone to fully explain the new policy. As a result, I now have an exception that allows me to sell, if I feel it prudent.
One thing for sure, though, nearly everyone is in the same boat, so there won't be much daytrading or profit taking place today....
They are selling IOUs with no backing. What a joke! What happens tomorrow and Wednesday, when supposedly the transfer is complete?
Care to venture a guess?
My bad...so similar.
Isn't Rufus a drug they slip in a date's drink, to confuse them so they can, hmmm... 'take advantage of them'?
Spoke to an Ameritrade supervisor, who said two things are going on: 1) a new regulation (2 weeks old) that imposes a 3 day settlement requirement for funds on any pink or otcbb purchased before a name change or corporate action.
For those of us who bought last week, we are being held to the 3 day waiting period for funds to clear, regardless of our margin account privileges under normal circumstances. This is new.
2) In addition, because it is a pink/otcbb, ameritrade will not give us the benefit of the doubt that the shares will be received, and so, will not post them to our account as holding those new SLJB shares until a business day after they are received.
All holders are subject to the second constraint.
However, last week's buyers are being stymied by the first constraint as well.
Bottom line is, you can sell if you get an exception from a supervisor, and speak directly to an account representative at the Trading Resource Desk. However, those funds will not be available to you until the shares are received and the original funds settled. You would not be able to repurchase your position, for example, if you realized you had made a mistake.
Therefore, I think it is safer to hold these shares for the moment until the paperwork is received and you could daytrade them if you wished.
Think I'm holding,though, this is too interesting to watch!
Ameritrade scrambling to come up with new reasons why they don't have shares yet.
This is the funniest! I have spoken to three people in reorganization, each one with a different answer! One finally blurted out that for some reason, the transfer agent seems to be slow in getting the new shares to them.
Anyone else hear this?
Profit taking selloff will be limited, if everyone is experiencing the same problems with their online accounts, imho.
All selling will be limited to daytraders or shorters. This should be interesting to see how it plays out.
PAIV would be a dream...I'm just trying to get a straight answer from Ameritrade, tho. The situation is not clear, imho.
That's what I heard too! There is definitely a risk to selling today, and I was told the funds might not even be available to you for a while.
Did Ameritrade tell anyone else that they can't sell their SLJB for three days, except by selling short, and then the funds would not be available to them until the three day waiting period?
Ameritrade told me the only way I could sell these shares would basically be to sell short...because if you bought last week, the funds haven't yet settled, plus they haven't received the shraes.
This is very frustrating, because much could happen in three days.
Ameritrade too, "invalid symbol" and is not updating my account since friday's close.
Am currently on the phone with the "reorganization" department...I'll let you know what I find out.
am I glad I bought last week!
What bids do you see on yours?
Heh heh!
Alphatrade, this AM, had a MM @ .07. About ten minutes ago, the .07s vanished. All that's left now is HILL at .09, and above him, blue sky.
Should be interesting to see what happens as the MMs wake up this morning. Not making any predictions,just think it should be interesting.
Alphatrade...good for this, tho not as good as microcaptrader, imho. Still, $50 less
Asks just raised to .09...hmmm!
I was just working on that one...!!
You asked for it!
The man inspires me...what can I say? He is my hero....
in spite of his online reports
the chairman can't kill all the shorts
cuz behind the cavortin'
he's the very one shortin'
What a tale will emerge in the courts!
More inspiration from RPH:
"with a magical wave of my hand
I will raise my stock's price if I can
come all, place a bet
on this wondrous reset
just nobody mention BBAN"
__________________________________________
I apologize for the outpouring of prose...what can I say, the man is an inspiration, a veritable Helen of Troy:
...the farce that launched a thousand suits...
I take it you're bullish....?
Question: Any opinions on why they are no marketmakers above .09c? Generally, even with a tripzero play, there are what I call "fantasy" asks, GTC with silly numbers.
But in the case of SLJB (LFWK), even with all the activity, there are no MM, no GTCs above .09, not even one at .10c
Just curious about your opinions on this.
The paths of a rising star and falling star crossing paths briefly, imho
One of the wisest posts I've read in a while. Thanks!
A Poem, by Rufus Harris:
A company, CVSU
Had a chairman, both modern and new
"Buy my stocks" he'd implore
"If I could, I would buy more!"
But the bag holder, surely
is you!
____________________
There once was a chairman named Rufus
who acted a bit of a goofus
but with a wink and a grin
he'd reel the fools in...
so tell me, who's really the dufus?