Ameritrade did it again ..) It looks like there is a huge fiasco on the other board as well,(Paim) Scam or not scam this is not really the question here ,Dom or Not At need to cover billions of shares again..It hurts ..
Here is one comment
Posted by: hellogeorge1
Date:7/22/2006 10:08:24 AM
Post #of 12246
AMERITRADE ACTIONS (Paim)- ANALYSIS -
I've been reading many posts on this and RB boards, and my conclusion is that the brokerage houses are still confused and PROBABLY short billions of shares.
Ameritrade has reduced my debenture shares and the debenture shares of others by a factor of 10,000 and Scottrade has reduced them by a factor of 1000. CONCLUSION: They are confused or, more likely, THEY DO NOT HAVE ENOUGH SHARES TO COVER THEIR OBLIGATIONS. Ameritrade has taken away over 19 million of my shares and millions from others, with Scottrade has done the same thing. POINT: They will eventually have to replace these shares.
Couple this with the billions of shares that were sold short by traders for about 2 weeks after June 15th when only 10% of shares should have been tradeable but yet Ameritrade permitted 100% of shares in accounts to be sold. Ameritrade is probably responsible for replacing these shares to the traders who sold short UNWITTINGLY SHORT after the 15th of June.
Also, several posts indicated that they confirmed from Ameritrade yesterday that for a short time they were not able to buy shares on Ameritrade. This could mean that for a short time Ameritrade itself could not buy shares from wherever they buy them (the DTC perhaps). If they owed the DTC billions, the DTC might have restricted Ameritrades buying for a short time. Ameritrade may have taken shares from the debenture accounts to make up what they owed.
All of this leads me to believe that Ameritrade and Scottrade are now themsevles SHORT OF SHARES - probably BILLIONS. If Ameritrade must replace say 7 billion shares at a cost of .003, that is $21,000,000. That is a huge chunk of change for even Ameritrade.
All of this seems to confirm what many are posting that the SHORT squeeze is of HUGE proportions, and should drive this stock well over .005 to perhaps .01 or higher.
