InvestorsHub Logo
icon url

TampaTradr

09/13/06 2:26 PM

#7291 RE: best2listen #7290

B2L,

IF (and I am not saying it is or is not) naked shorting is an influential factor with this stock, would the status "difficult to borrow" actually matter? I am a contractor, not a securities expert, but doesn't the "naked" part of naked shorting imply that shares are sold without being secured (borrowed)?
icon url

cyofish

09/13/06 5:25 PM

#7297 RE: best2listen #7290

B2L I got restricted by ML for 2 months for the very reason I stated - trying to flip an AMEX stock 3x in one day before the settlement of the first trade. This is the EXACT reason they gave me, "You do not have sufficent cash in the account to complete to make the purchase as your sale of the security has not been settled....your account is flagged for restrictions on any trades next 2 months....".

You may have your opinions but I'm talking form experience.