quote:Originally posted by vg: Morning dish! Feels like we moved back 2 weeks in time where we'd wake up early in the morning on the weekend to talk abt GVRP
vg, feels like the good ol' days, huh? Those first few days/weekend I remember that I got almost no sleep. Not going to let that happen this week. I will sleep fine selling all my stock at .001
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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i am estimating 19000 per share around the 1st week of may. i will take that for each of my pre-split shares. are you reading this gvrp?
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i like .001 better for my post-split shares you are not leaving out extra zero there, are you trader?
quote:Originally posted by Trader88:
quote:Originally posted by vg: Morning dish! Feels like we moved back 2 weeks in time where we'd wake up early in the morning on the weekend to talk abt GVRP
vg, feels like the good ol' days, huh? Those first few days/weekend I remember that I got almost no sleep. Not going to let that happen this week. I will sleep fine selling all my stock at .001
posted
Heck no, .001 is where its going, why take .0001? That's where this baby starts, the floor.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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From a very engaging academic paper on NSS--full of technical formulas for those who like that sort of thing--this pithy passage, positing DTC as both pivotal to the problem and the path from predicament:
quote:Each short position is compared to the member’s DTC account to determine if the member has enough shares on deposit to settle the short position. If so, then the DTC transfers the required number of shares from the member’s DTC account to the NSCC’s DTC account. Based on instructions from the NSCC, the DTC transfers shares received from members with short positions to the accounts of members with long positions. If the member with a short position does not have enough shares in its account to cover the short position, then the NSCC has five choices. It can wait another day to see whether the seller cures the fail by delivering the shares. Second, if it determines that the open short position is a high-priority obligation, it can attempt to arrange to borrow enough shares through its stock borrowing program to satisfy the open position (NSCC, 2003). If it is unable to borrow the shares, then the DTC has the three remaining choices: (a) it can demand a dealer buy-in (forcing the selling broker-dealer to buy the shares in the open market and deliver them to the DTC), (b) buy the shares itself in the open market and charge the cost of the buy-in to the account of the seller, or (c) as a last resort, demand that the seller break the trade and compensate the buyer for the associated cost.
Note "breaking trades" is "last resort." This seems to imply at least the possibility of some combination of (a) & (b) under "three remaining choices." In which case, TA/MM nexus may be buying Ameritraders' shares for delivery to DTC for shipment to the other brokers for individual accounts, which must themselves be bought back.
If nothing else, I think we should keep applying pressure for (a)/(b) as it forces following the rules and avoids the "last resort," which lets scheming no-goodniks effectively off the hook.
posted
Guys, Crazy thought but could this be possible. No broker apart from ameritrade is showing the shares, so is it possible that ameritrade shorted the shares, thinking they'll sell at .0001 and buy the at market value the first few days, making money from their own clients. Give the clients the shares, some of the clients sell at market value(the newbies) ameritrade makes crazy money not knowing that the SEC would get in. When Tuesday came by the saw that this is kind of out of control so they allow only sells to get more "shares" back. I dont know was just a crazy thought.
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Because some of those Monday trades settled on Thursday and some traders, I believe, were able to transfer cash to other (bank) accounts, even on a "broken trade," I maintain that my costs are NOT my original investment but the value of my f/s shares which were illegally withheld. This is not the "unrealized profit" argument: I have rights to something of x value, as proven in the market. This is no longer "speculation," but proven fact.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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I dont know if anyone was able to transfer any money out, I had it half way processed and then stopped I couldn't with draw anything. I dont think anyone else did either
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Well I guess i'm wrong, I didn't check out I-hub, I stick to this bulletin board, and PC could use it too so must be available, I haven't tried to use that money to trade.
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Hey tex why do you take a break your name is the only one I see all over the place its Saturday man get away from the computer for some time get a drink at 8.0, downtown, or something else
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quote:Originally posted by pcloadletter: No, cliff note version available?
"If it is unable to borrow the shares, then the DTC has the three remaining choices:
(a) it can demand a dealer buy-in (forcing the selling broker-dealer to buy the shares in the open market and deliver them to the DTC),
(b) buy the shares itself in the open market and charge the cost of the buy-in to the account of the seller, or
(c) as a last resort, demand that the seller break the trade and compensate the buyer for the associated cost.
I like choice "a"
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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pcloadletter, I wonder why your broker has let you do this, and no other brokers have. Strange, but I hope the other brokers follow in your brokers footsteps.
If there is money in other stocks, possibly withdrawn, etc. there is no way reversal is even possible. Looks like they're not going that route anyway, because its been 2 weeks and no trade reversals. Looks like the greys on Monday, or if we are lucky maybe we'll even have a bid! I tend to agree, this won't be a jackpot, but those of us who bought pre f/s have a chance to make some serious bank before this is all over. At least 50 bags, imo.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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actually, i prolly am going out later, to book the band I manage. The deal with the deal about this deal, was answering a question about NSS when I ran across that article by the perfesser, and since it seemed appropos, I approposted it...i have a windows/Mac network, working on band flyers on my big Mac, which is next to this machine, so it's easy to monitor the board...thanks for thinking of me, though, vg. And actually, 8.0 is on my list for bookings...nyuk nyuk
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Wells Fargo actually called me back the Tuesday after the Split to verify my shares were "truely" in my account.
I sold some, 20 million and used the bank to play. Wells sent me a conformation letter in the mail. They even offered to liquidate the account for me by telephone order.
I have not once seen a restriction on my account.
Hey! Maybe the insider uses Wells also and I really do have the shares.
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quote:Originally posted by pcloadletter: Wells Fargo actually called me back the Tuesday after the Split to verify my shares were "truely" in my account.
I sold some, 20 million and used the bank to play. Wells sent me a conformation letter in the mail. They even offered to liquidate the account for me by telephone order.
I have not once seen a restriction on my account.
Hey! Maybe the insider uses Wells also and I really do have the shares.
Yeah, but in reality he only had 1 share to sell! If you only sold 1 share, I guess you'd be alright.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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By people trading this, it has made a total reversal almost impossible.
How can they claim we were shorting this if they "verify" that shares are in the account? That is what the insurance is for.
People trading this is what everyone needed to happen, otherwise, a reversal was easy and the insiders get off. A large, public, exposed mess is what the market needed. All eyes will be on this and the outcome. Washington can't afford for the share holders to get the shaft. I can see the headlines now:
"Shareholders Trust the System and Lose Savings: Is the New Social Security Plan Safe?"
This is getting good. I look forward to the movie.
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i am actually considering trying to shop a screenplay...the tricky part, initially, is that much "action" takes place on a monitor screen and inside the various "characters'" heads...that's hard to translate to a movie screen...love the headline, btw
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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I think A LOT of eyes are on this. With GW's Social Security proposal, this goes all the way to the White House. I wouldn't doubt if there are Congressional eyes on this as well.
This GVRP thing needs to become a poster child, and an example needs to be made of it, so that something like this will never happen again. I hope that's what's going on here. Not just so we can make a lot of money, it really is the principle of the matter.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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Trader, i can guarantee you "Congressional eyes" are on this. Fact. What they will do is, of course, conjecture...but some have been alerted I know for certain. I urge everyone involved to send a terse summary with DTC's options clearly spelled out to your reps and senators. It's easy; they all have Web sites with some sort of e-mail page. A couple of sentences and some cut n paste. "Breaking trades" is "last resort" that would allow rule breakers off the hook and force lawsuits to recover true value, not "original investment" plus commissions. We are no longer talking about "unrealized profit" from a speculative play: The market has proven their worth.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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The market has said that .0001 is the floor. So, yes, we are owed more than just what we initially paid, most certainly.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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quote:Originally posted by pcloadletter: No, cliff note version available?
"If it is unable to borrow the shares, then the DTC has the three remaining choices:
(a) it can demand a dealer buy-in (forcing the selling broker-dealer to buy the shares in the open market and deliver them to the DTC),
(b) buy the shares itself in the open market and charge the cost of the buy-in to the account of the seller, or
(c) as a last resort, demand that the seller break the trade and compensate the buyer for the associated cost.
I like choice "a"
I like choice (b)...ever notice how peeps treat a company vehicle? If I were the responsible seller, I'd much rather manage the buy-back than let DTC do it and then send me a bill...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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a or b, but c no way, unless we're compensated at the last market value, .0002.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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Anyone try phoning the T/A lately, or are they still 'gagged by gluv'? LOL
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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T88, imho, we needa not contact anybody unless it's US reps and senators. seriously...the SEC/NASD/DTC nexus KNOWS what a clusterphuck this is. Only a few congress-types are aware, or more accurately, "somebody" on their staff. But once they get it, man, I'm saying again, on Friday they tried to shove me off in the DC office of my rep and send it back to the Fort Worth "home office", then late in the day I'm driving and get a call on my cellphone--from DC. "Yessir, we are definitely looking into it."
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by BuyTex: T88, imho, we needa not contact anybody unless it's US reps and senators. seriously...the SEC/NASD/DTC nexus KNOWS what a clusterphuck this is. Only a few congress-types are aware, or more accurately, "somebody" on their staff. But once they get it, man, I'm saying again, on Friday they tried to shove me off in the DC office of my rep and send it back to the Fort Worth "home office", then late in the day I'm driving and get a call on my cellphone--from DC. "Yessir, we are definitely looking into it."
How are you summarizing what's going on with Gluv to your reps and senators?
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I went the route of my concerns about Social Security Reform and used GVRP situation of an example of my mistrust and concern for a failing securities system that the SEC can no longer control or regulate. I explained the failure to deliver on my retirement account which is "protected" by laws that apparently cannot or will not be enforced.
What is the system coming to when we cannot expect a security to be delivered once payed for?
How can a broker charge a fee and then refuse to complete the transaction?
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you are not leaving out extra zero there, are you trader?
