Monday, March 07, 2011 7:18:27 PM
Just to clarify. It's USAA, and no they are currently "chilled" as well right now. A very good company. Not one that you have to call if you have problems trading a stock. They actually called me when they had to cancel one of my buy orders as they "chilled" themselves, and explained in the voicemail why they had done so. Very few brokerages do that. I, for one, am extremely pleased with their customer support.
Here is the reason why he said, "Mr. X, we're sorry to inform you that your order to buy X amount of shares has been cancelled. There are stock clearing issues at the moment. Due to the uncertainty of the other side (the issuer) being able to deliver the shares, and the risk it presents to you we are cancelling the order."
Right then that was telling me that obviously the whole point of the dividend was to expose the horrific NSS going on behind the scenes. It's the same thing we've all been speculating on since the lock happened. I don't see why everyone and their mother keep trying to blame SMPP. Right now they're trying to get a product online. Yes we, the investors, are upset due to the lock and can't do anything until it is lifted. It won't happen until all the shares are accounted for. It's your brokerages, their buddy the DTCC, and their evil dealings behind closed doors trying to cover their butts that are most likely responsible.
I can only imagine what the people at SMPP are thinking. Yes, they probably want to launch right away. The more business they get going on immediately after launch the sooner we'll see the profits in the reports. Even if it's still under this chill for a while longer there is still trading going on. People can still move funds around to other brokers that can still trade and buy massive amounts of SMPP if they so desired. The point is they've addressed the issue and are trying to work the lock issue. They obviously know about it already and are probably working at it. They've followed through on every promise they've made, and if some plan changed they kept us informed 100%.
In the end this is all my opinion, but if you're a long and strong crew member like I've been since September you'd understand. Sure this typical penny BS stinks, but you have to deal with it and be patient. With any stock it's all about patience. I can see why some people are getting ancy and I have a feeling it's cause they haven't been able to flip it as quick. Everyone has to make their buck I understand, but please don't make it so obvious.
As far as this:
Logical Cash
That's preposterous. They do return e-mails and phone calls. I'm sure they're INUNDATED with them concerning all this. There's only so much two people can do while they're running around with their hair on fire. Relax and be patient.
Sorry for the book folks, but it's ridiculous how many people go off on extreme tangents when they don't get something right away. I just had to say some things.
-GO SMPP! Long and Strong!
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