MORTANT NOTICE ! Some of us were wrongfully shorted by Td-ameritrade regarding our paim common shares and forced to cover .This was their fault anf not yours .....And they will be forced to correct it . Some indivuals at ameritrade put orders to sell through in an untimely manner . This meant ameritrade soon realized they had to get some of those shares back .....And rather than pay for their mis-take they decided to put the financial burden on the client by shorting the clients account . This is a big mis-take on their part .The S.E.C. has been notified and is filing my complaint and will be filing yours once you contact them . This is very important and will get the problem corrected so that our accounts will be reimbursed the funds owed. I am told the investagation has started and all of us who were wrongfully shorted need to contact the S.E.C. This is an obvious mis-take and fines and legal action will now be pending against Td-ameritrade to expidite the correction to our accounts .The N.A.S.D. may also be interested in this . Let me know if this has happened to you and here is the number to the S.E.C. 1 800 732-
Posted by dacollecter on :
where'd you get that info?
Posted by doling2005 on :
Buy today and profit from AT mistake!
Posted by Stockguru06 on :
is this the same situation as paiv?
Posted by doling2005 on :
up 30% today on short covering..
Posted by doling2005 on :
quote:Originally posted by *********06: is this the same situation as paiv?
Yes and you know what happened there
Posted by lostone on :
buddy of mine got etrade and it did that to him, making him owe tens of thousands by now.. sold PAIM long ago, and now suddenly appear as a short..
Posted by Stockguru06 on :
but what exacly has happend here and what do you expect to happen?
Posted by doling2005 on :
theoretically AT may have to pay to cover all the short positions
Posted by rimasco on :
Sorry to hear that guys.....so youre saying its still a buy
Posted by Stockguru06 on :
if shorts need to buy back, this can become interesting,look what happened with paiv but i don't know if this is the same situation
Posted by rimasco on :
float vs shorts for starters
Posted by doling2005 on :
quote:Originally posted by *********06: if shorts need to buy back, this can become interesting,look what happened with paiv but i don't know if this is the same situation
YES it is the same situation..didn't you see the Street.com article Saturday comparing PAIM with PAIV?
Posted by doling2005 on :
Here she goes..
Posted by kittykash on :
help triovestor out and pass word along. Complain to ameritrade and sec., see if you people that got in this position can ban together! How awful! Posted by doling2005 on :
quote:Originally posted by kittykash: help triovestor out and pass word along. Complain to ameritrade and sec., see if you people that got in this position can ban together! How awful!
It's not awful for those of us buying now..but yes for those who are in a short position
Posted by kittykash on :
but of course..... the deal is with ameritrade not PAIM Seems he had to buy back tons of shares for his GTC order to sell that went through AFTER the date that trading companies had to stop processing sell orders. Ameritrade goofed and he appears not to be the only one that found himself in that position. Reread his opening complaint. He never stated that it was against PAIM.
Posted by doling2005 on :
has anyone spoken with AT to see what they are doing about it?
Posted by triovestor on :
Doling .....I doubt Ameritrade will want to fix it or even tell you so . What they seem to want is for people to simply cover the false short possitions and go away .
I have plenty of prefered shares and a huge amount of debentures shares ....I just don't have my millions of common shares because Ameritrade took them to cover their short possition . Plus I had to sell another stock to fully cover .
Like I said ......It is an obvious mis-take made by Td-ameritrade and the S.E.C. is now filing against ameritrade to fix it { and that means put back funds and/or shares back into clients accounts }
I have already talked with a lawyer and started the complaint through the S.E.C. but it is important that anyone else who was wrongfully put into a short possition file a complaint aswell .
You can freely trade the paim common shares now ..Thats fine . This is a problem that took place during the debebture buy back . Ameritrade simply let some trades go through { when they should not have } as the stock was restricted to trade .
It's their mis-take and they will pay for it ..if you contact the S.E.C. and file your complaint .Most of you probably called ameritrade and found they denied they caused the problem and refused to correct it . Well they caused it ..AND THEY WILL BE ORDERED TO FIX IT .
Some of you lost your valuable common paim shares through this illegal short possition placed in your account . Call the S.E.C. and file your complaint
1 800 732-0330
Posted by Wit on :
TRIO-
You've got mail.....
Posted by Duncan Idaho on :
Opening transactions for this security are not accepted.
Halted by TDA again
Posted by doling2005 on :
So AT won't let anyone buy? That's actually great for those of us in this because AT knows it will go up and they will loose even more $$$
Posted by kittykash on :
what do you mean Ducan?
Posted by kittykash on :
are you serious??? Ameritrade won't let you buy shares of PAIM??? hmmm. doesn't look good for ameritrade. Has anyone with an ameritrade account been able to buy in last few days?
Posted by doling2005 on :
I think Ducan is saying due to the screw-up by AT, they won't let anyone buy anymore, thereby increasing their likelihood of having to cover higher...is that right?
Posted by triovestor on :
Doling ..Can you confirm that Ameritrade won't let people buy .....? I need to comfirm that and let S.E.C. know .
Posted by kittykash on :
but I placed an order to buy PAIM at .0028 GTC on Friday. The order stayed there until I canceled it a couple of hours ago. I didn't get a "Opening transactions for this security are not accepted"
Duncan, did you get in a short position, cover it and then tried to buy PAIM again?
Posted by Duncan Idaho on :
I can confirm that I put in an order for PAIM 2M shares * .0004 and got the message
"Opening transactions for this security are not accepted."
My odder did not go thru but I have an old order still sitting there.
Posted by Duncan Idaho on :
I think Ameritrade is getting out of the PAIM mess.
They dont want to trade it anymore, but if you are holding, they cant take your shares.
Posted by doling2005 on :
AT definately doesn't want this to go higher!!
Posted by Karma Earl on :
I placed an order this morning and was filled
Posted by Karma Earl on :
bought 268000
Posted by doling2005 on :
Through AT? maybe it's traders who were in it short??
Posted by Robbie English on :
traders with USA accounts cannot short micro stocks period. So it is them passing on the blunder.
Posted by Karma Earl on :
Yes through TDA
Posted by doling2005 on :
looks like we're closing near the HOD...great for tomorrow
Posted by triovestor on :
Anyone who has been wrongfully shorted can private message me and I will fill you in on the action against ameritrade .
Posted by triovestor on :
Anyone who has been wrongfully shorted can private message me and I will fill you in on the action against ameritrade .
Posted by doling2005 on :
trio did you try buying to make up for any short covering losses you had??? Just curious...
Posted by A.J. on :
This has been going on much longer than you think. I have a whole portfolio of these on goings with Fidelity as well as AMERITRADE - GOOD LUCK WITH THE SEC/NASD The Nasd CLAIMS TO HAVE RETURNED MY FOLIOS B-U-T did not - I can prove it by the weight of what I sent against the weight of what they sent. They lied. AND DID N-O-T-H-I-N-G!!
If you will take the time to got to 'businessjive' and select DR. Byrnes slide show presentation - you will see what is ongoing with all this - nothing new. Also EX-DIVI'S - they hold them in street name and c-o-n-t-r-o-l THM WHILE you sit restricted with not even a mention of what shares you supposedly own,!!GET CERTIFICATES!!
There is another way - I have learned and I am going to do it. I met a guy who did get his money back quickly. I have had approx. 14 experiences of this on three different stocks and caught two frauds.
BE YE CAREFUL. Lucky
Posted by doling2005 on :
Poster from RB
"Sandbath-I'm no expert or lawyer, but first I would say that if all the brokerages went into collusion with each other and manipulated a stock like that, not only would we have one hell of a class action lawsuit, in which we would probably make even more than what we'll make now and hence they will lose more and get severly fined by the SEC, but also PAIM the company could sue the #### out of them. On top of that, all the brokerages and MMs aren't in the same position as say Ameritrade seems to be, and they know what we know, and probably even more, so those MMs will be trying to accumulate themselves, knowing full well that Ameritrade and others have to cover and they'll be able to sell their shares for a lot more very soon. The only way for any of the MMs or brokerages to get our shares at this point is to entice us, and that means moving up the bid enough that some people will take the bait and sell, but at the same time the ask will move up, probably with a big spread, because they don't really want you to buy, they really just want you to sell. And at the same time, all of us retail investors see the focked position the MMs and brokerages are in, so we will buy all the shares we can get, because we just saw what this situation did for PAIV. They can try to stall the situation, which I believe is what happened today, but as the situation here becomes more and more clear to alot of investors, the buying pressure will be greater and greater, which will force the MMs and brokerages to cover, because it's alot better to cover now or at $0.01-$0.03, than at $0.10, $0.15, $0.20. And right now, PAIM is expecting their 27 billion shares they already paid for, so there is the pressure on that side to cover. This looks like a gold play in more than one way, LOL."
Posted by Superbee383 on :
quote:Originally posted by triovestor: Anyone who has been wrongfully shorted can private message me and I will fill you in on the action against ameritrade .
Do you have a personal vendetta going on with Ameritrade? Believe me, I was pretty upset when I had a margin call of over 10.3mill, but geeez.. they were trying to do me a favor, which ended up uglier than sin, but which they fixed. BUT...as far as I've always heard, a brokerage firm CAN borrow stock if it's held in street name. I've heard rumors that if you buy a stock, then put in a GTC order to sell, they can't borrow it. Everytime there's a buy, there's a sell, a short sale, a covering buy too. But whether that's correct or not, what the heck is with the constant posts about TD/A and the SEC? If you don't want your stock borrowed, get certificates, which in my opinion is a pain in the butt.. but then you can't complain. Oh and the MM's from ALL the houses short stock.. not just TD/A.
Posted by yayplaya on :
I got ameritrade and i bought paim last week thursday just fine...earlier today i tried putting an order in and i got the same message saying "Cannot open transactions on this security" so i guess ameritrade must have just put this on PAIM. funny thing is I remember trying to buy PAIV a week or so ago when it was at .02 and i got that same message
Posted by triovestor on :
Ameritrade simply made a mistake { human error } .But their mistake can not be thrown onto the client in the form of a false short position .
Keep in mind the U.S. Securities and exchange commisson is filing my complaint because they agree this was an illegal & wrong short possition they put on my account ......And that I had to cover at my expense .
All of you out there that were also thrown into a illegal short possition are entiled to have your accounts fixed .
That is the purpose of this thread ...to alert others that were harmed my ameritrades mistake to follow what I have done to correct this .
First I called ameritrade and complained of the short possition that " THEY " caused and tried to pass on to me . They took my available funds and forced me to sell shares of a stock that I did not want to sell . They also admited they made a mistake and knew I did not short the stock ....telling me it was not a real short possition and that it was only showing up that way .They said they would correct it . Well they did not corect it and in further calls demanded I cover on the short possition or they would force a cover .
This is a obvious mistake by ameritrade and looks like they tried to smoothly pass the bungle they caused onto clients .
Even when they placed my order to cover over the phone { as I never shorted before and therefore did not know how to cover } they did not charge me saying it was " THEIR " mistake .
They know they have a problem here due to their mistake . And they are worried they will have to cover . It seems the price of paim is going up and everyone who lost shares must have them put back in their accounts { no matter what the price } .
Step 1 ...Complain to ameritrade { and be carefull about what you say - they may try to trick you into excepting responsibility for their mistake } By law they are supose to record every conversation .
Step 2 ...Complain to S.E.C. 1 800 732-0330 you can ask for steve Johnson or Brenda Stanfield
step 3 ... We need to stay in contact here ..After S.E.C. sends the complaints to ameritrade they will await their response for compliance . If Ameritrade resist correcting our accounts they will be fined and legal action will be taken as I am asured this will be corrected . In possible legal action some of us may wish to combine our efforts in a class action law suit .
Every last one one of us that were wrongfully shorted must have our accounts corrected .
Posted by Camelboy on :
I just tried to look up paim.pk on the ameritrade site and it says its not a valid symbol now
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