Ameritrade will not allow you to trade because....By: OHBULL2000
29 Aug 2005, 02:33 PM EDT
Msg. 5035 of 5036
(This msg. is a reply to 5018 by fleetofjets0.)
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I think you're right fleet (Please READ)...
This lull in the basherboys posting from this a.m. plus some of the comments regarding AmeriTrade got me curious so I just called Cindy at the TA, you can too, she's in Vegas at 702-361-3033.
First I asked her if she/they had halted taking any orders from any brokerages?
She said they had not.
I then asked about the info in the posts from this a.m. and told her about what was said about AmeriTrade's halt.
She said that was an internal decision from AmeriTrade, if orders were not being processed,not them.
I then asked why would they do that, my Harris acct. lets me buy or sell, unrestricted. Would AmeriTrade have a short position that would warrant such an action?
She said... absolutely.
Now she is not the IR and does not have confirmation that AmeriTrade has a short position or how big.
Sooooooo... I talked to a Series 7 friend and laid out the same scenario, he without hesitation said a large short position would be a very good reason (all factors being equal).
My opinion? You will never see those certs from Ameritrade, they have used your shares (you bought in good faith) and used them to short your investment. Now maybe you have a "lock" on your shares (Harris for ex. won't lend my shares out without my permission)and your shares were'nt used but I'll bet ya dollars to donuts they have used others! and alot of 'em.
All IMO of course, but the brokers who are slowing/halting trades should be considered very suspect.
Moving your acct. just might be a good idea.
AI
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