Does anyone know why Ameritrade requires you to go through a broker to open a position in AVTC? I know it is an OTCBB stock,but I have traded hundreds of Otcbb and pink sheet stocks over the last decade and never ran into one that requires the broker to open your position for you.
Is it because I trade in a cash account now?Use to trade in a Margin account.Anyone else have this trouble? If there are a lot of people getting the same roadblock when they go to BUY the stock I could see that slowing the action down on the stock.
Makes me wonder if AMTD isn't short on the stock theirselves,or trying to help MMs' OR other brokers who are short.To slow down the buying?
It was explained to me by AMTD that there are certain VOLUME and other requirements etc. numbers that triggered this to be one that they have to open the position for you.(Frankly their explanation was very weak and almost as if they didn't know themselves,just trying to appease me with some kind of answer)
Sounded like BS to me.I could see if you were trading on margin and it had to meet certain margin requirements,so on and so forth.....
I already opened a position but was just wondering how many brokers are creating this restriction and how many others on this board have run into this.
I trade in a cash account and wanted this Thursday morning and watched it climb with surging strength over 6.00 a share and couldn't trade because my cash was tied up.Had to wait until Friday.I should have known better to chase but having to order through the D... Broker,CEO putting out a PR,,,,the Gap and Trap was set and I had to pull the trigger or rather AMTD pull the trigger for me shortly after open.I regretted that as we all know it dropped to 3.80.
I did my due diligence on this Thursday all day and into the evening.I decided this is going over 10 in short order (pun intended),so even if I get in a little higher,this stock is on the move North.I still wish I had waited but it could just as easily continued on to 7-8.00 a share.
I am very curious as to what the next two "divisions" are they they mentioned in the Press release Friday.If the CEO can put some clarity on that or some other revenue news in the immediate future it can really fuel the fire.
I may end up having to hold for a bit ,not necessarily wanting to fall in love,although could be a really good long term hold.Just thought I'd make this post to see what experiences others might be having I.E. AMTD..purchasing problems? Availability of shares ,etc.
As well opinions on what these two divisions might be and can anyone name ALL of their current divisions?I didn't seen any real clarification of their divisions on their website.
Should be an interesting week ,hopefully the uptrend continues and I don't get my ask handed to me.Already feeling a little pain at 4.60 entry!!!!
Good luck and looking forward to any comments.
AI
