Alright, here's what happened ......
So I've been short CCSC at $24.81 and even though it's risen recently (closing price of $26.16 yesterday), the market opens yesterday and the first thing that happens is Ameritrade forces me to cover at $27.60, as they automatically covered for me. You think I was pissed, especially since I know that stock's eventually headed for $10.00 ? I call Ameritrade and they say their client whom they borrowed the stock from wanted to sell their stock and thus I was forced to cover. Let's just say that "WTF" wasn't half of what I expressed to Ameritrade. They explained the SEC rules to me and I'm still shaking my head. Can someone explain what just happened in language I can understand ? Geez, if Ameritrade can cover my short positions whenever they want, that changes my entire shorting strategy for sure. I'm at least glad I convinced them to give me 300 free trades, but I'm still pissed. This has NEVER happened to me ..... EVER.
