Replies to post #8612 on One Step Ahead

[drugtester]

Bo14172..I would say if there are 41,000 shareholders, we should use 10,000,000 per shareholder average..which gives us 410 billion...I think that number is more on target. Now does that amount also contain 100-200 billion short shares?...that is the big question....:+)

[zeninvestor32]

BO, I HAVE DONE THE SAME

I only have 12 million of my shares in a cash account. The rest are in IRA form. I requested 1/2 of my cash account certs from Ameritrade. It took 3 weeks for them to arrive. I immediately then requested the other 1/2 which are now being processed. Although I highly doubt there would ever be an issue with respect to Ameritrade or any other broker not honoring their sales, I still will hold roughly 1/6 of my position in cert form as a small insurance policy (I do think the NASD and SEC would have some serious issues with any brokerage refusing to honor a sale it made for its clients when it is that brokerage's responsibility to ensure delivery on shares -- my guess is the NASD would suspend a brokerage firm that is selling shares that it refuses to back and I highly doubt Ameritrade cares to be suspended -- all just speculation on my part). It certainly can't hurt and, since I am not daytrading this stock and plan on a lengthy hold, I have no concern about the 2-3 days it may take to place the certs back into my account when I eventually sell in the future (plus I have all my other shares to sell at any time). And in the end, I have said this before -- I do NOT believe pulling your certificates will create a short squeeze. I DO however believe that in the event a short squeeze occurs for other reasons, having your certs pulled will COMPOUND the shorts' problems. It can only add pain IMO so I have put in my requests.

Unfortunately, I cannot take out my certs for IRA shares due to it being considered a distribution. There is a method whereby I can request them for a rollover to another IRA account. Ameritrade would send my certs to me but I would have to deposit them within 60 days into an authorized IRA account or it would be deemed a distribution. The other kink to that plan is that Ameritrade's rep told me that with such a rollover request, receipt of my certificates could take "up to 90 days". All of that makes such a request just too messy to deal with. Certainly this is an edge the shorts have in that many people have their shares locked up in IRA accounts and will never request certs because of it.

I personally will not advise either way on what people should do on this question. I've made my choice. Weigh the options on your own and do what you feel is right.