Friday, October 07, 2011 4:05:32 PM
I'm not disputing your take on the "D" and the prevention of shorting. I'm only saying that an agent intervenes and the parties on the other side decide when to post the shares. Granted, we'll get 1 from 500 out of the deal, but if the stock drops during that time, we go from the toilet to the sewer.
I once saw a stock of mine R/S, and after the point of split the thing shot up, at which point my shares would have gone from loser to break even. But I couldn't trade what wasn't released by the agent, so when my shares were finally posted, the stock had dropped at terminal velocity.
The broker does nothing till the shares are released, so in a situation like this with four parties involved (broker, company, agent, trader), the trader has no friends. At least that's my experience. Anyone have corrective input for me? I'm listening. Hopeful, but not terribly optimistic.
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