Checked today to see if we are still on the SHO list and as of the 10th we are. Here is a link for those who have an interest. http://www.nasdaqtrader.com/aspx/regsho.aspx. I called and talked to a service representative at Ameritrade three or four months ago and was told I could request verbally that my account be excempted from short loans. Thought I would check the status of that last week and sent an email. Bottom line, my shares are still loanable/shortable until I send a letter requesting otherwise. Typing it up right after this. Here, other than my name, is an exact copy of the text an Ameritrade account rep. sent on Saturday:
Dear XXXXX XXXXX:
A margin account permits investors to borrow funds from their brokerage firm to purchase marginable securities on credit and to borrow against marginable securities already in the account. All securities and other property held in the margin account may be pledged, re-pledged, hypothecated, or re-hypothecated, without notice to the account owner and Ameritrade may or may not retain in its possession or under its control an equal amount of similar property or securities. Ameritrade is authorized to lend any securities held on margin in the account to itself as broker or to others, unless and until Ameritrade receives written notice of revocation from the account owner.
Clients who have a debit balance in their margin accounts may have their stocks loaned to Ameritrade as broker or to others. If you wish to not have your securities loaned out , you will need to either:
1) Reduce your debit balance to zero by liquidating securities or depositing funds to pay the debit amount.
Or
2) Elect to have all securities in your account exempt from short sell loans. Your request will apply to all positions in your account; requests cannot be made for specific securities only. If you prefer this choice, send a written request stating that you do not want your securities loaned for short sell transactions. We can only take this request in writing, not via phone. Mail the written request to:
Ameritrade Clearing
Attn: Security Lending
1005 North Ameritrade Place
Bellevue, NE 68005
Please be sure that your request is received 10 business days prior to the ex-dividend date to ensure your shares are not loaned on the ex-dividend date. Please keep in mind that your request will apply to all positions in your account; requests cannot be made for specific securities only.
Sincerely,
Tovunya C.
Apex Client Services, Ameritrade
Division of Ameritrade, Inc.
Original Message Excluded:
This post is an opinion and should not be considered reason to buy or sell any security, or to besmirch, belittle or berate any person, religion, cult, creed, race, sex, political party, company or company representative of any age or appearance.
AI
