Thin Tankers

[Mr. Bill]

Curious the TDA restricts on too many stocks. I gained some insight into why recently. TDA restricts new positions in SSPT - I now understand why!

I was trading with Just 2 Trade and really liked them. $2.50 a trade. All was going well. Very happy with them. Then.....

I sold SSPT - a total of $350 worth! There seemed to be nothing special about the stock. Several days later when settlement should have been done I noticed my account was like $610 short (actually $625). Ultimately J2T did the right thing and refunded me my money - this time.

Turned out that SSPT only traded in paper certificates and were not DTC eligible. At settlement 5 parties were involved at a whooping $125 per certificate cost for a grand total of $625. They were passing this fee from the transfer agent along to me as their clearing department had charged them.

GEEEEE I wish J2T had restricted that stock!!!

I cannot take surprises like that even though J2T made me whole this time. My fear was what happens next time!!