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Thursday, October 25, 2012 11:21:36 AM
I know that folks at the MJ#A board have been reporting problems with buying shares via TDA due to a DTC hold, but I was able to sell 10K at $0.137 (the ask at the time) earlier today. I had bought the shares months ago at $0.05 and wanted to reduce my holdings a little.
I think that the problem is with buying because TDA can't guarantee that it will get the shares from the seller in a timely manner if that seller isn't a TDA client.
BTW, my 10K sale showed on the ask as a single share, so they must have routed it through an ECN that places it as an "Iceberg" order.
This has not happened in the past, however. When I traded in and out of COIN a few months back, the TDA-placed order went through etrade's ECN, and I would see the actual amount on the ask, as long as it was greater than 5K shares.
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