News Focus
News Focus
icon url

Ragz

06/10/07 9:24 PM

#270607 RE: alien42 #270606

spooky42alien,

Thanks for that answer. Why do these broker's screw with other's money? I have never had that problem with Scottrade.

Thank again

Ragz
icon url

ed53wa

06/10/07 9:28 PM

#270609 RE: alien42 #270606

Wasn't there a warning not to trade till the transfer was realized? You sold stock that wasn't in your account (short)-TDA's fault for allowing the sale. Glad they straightened that out for you.
icon url

janice shell

06/10/07 11:39 PM

#270635 RE: alien42 #270606

I have a better story. Back around 2000 I was following the BIFT story. The company did a big forward split, which reduced the price to 20 cents or something. There was a lotta hype, and it began to move. The momo built over a couple of days. It peaked at about two dollars.

One woman, an enthusiastic long who actually believed in the company, had the wit to realize she should take a profit on part of her position. She was at work at the time, excited and distracted. She quickly put in a sell order....and accidentally added an extra zero to the amount of shares she wanted to sell. When she got home and checked her account, she realized what she'd done, but the markets were closed.

She was very lucky. By an hour or two into the next session, the stock price had dropped to .75. She covered and made a juicy profit. And no one ever tried to bust the trades. I think they watch for that kind of thing more closely now.