OK, I know it has been almost a week since I posted that I was going to get in touch with someone at Scottrade to ask about the trading restrictions. Well, they actually just sent me a letter that showed up in my post mail today. I just thought that was kind of wierd since they are an "online" broker...I figured email would be the prefered method of correspondance. Maybe they are just trying to make it sound really offical.
Anyway, to summarize, it says that Scottrade's Risk Management department regularly reviews stocks for "unusual" activity, and that when they see something, they reserve the right to "temporarily" restrict the online trading. This is basically the same thing they told me in the first email they sent. I am a little disapointed b/c I specifically asked them what the exact "unusual" activity was that caused this action.
The best part of the letter is that it states, "This review and restriction should not be construed as a reflection on the merits of the security involved (FCCN) or the people efecting transactions in the security. Please be advised that we anticipate the restriction being lifted the week of February 12."
WELL NOW, THAT IS GOOD NEWS ISN'T IT!!!! MAYBE WE WILL SEE A SIGNIFICANT INCREASE IN VOLUME THIS WEEK ALSO!!
