posted
I have a new goal now! I think I will hold my CSHD till the 15th day after the Grandfather Clause is abolished from RegSHO. I should get near a grand a piece for each of them when the grim reaper comes calling for NITE and his criminal friends.
Who was it "glassman" who told me and others not to blame the MM's they are not totally evil? Oh I agree, but according to the letter posted this morning they aren't exactly looking out for my best interest either.
An MM should be the most fair minded guy on the planet. He should have the buyer and the sellers interest at heart not his own. And if he can't do it then their should be laws preventing him from abusing his power, jailing him for robbing the poor and feeding himself.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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posted
It is your brokers responsibilty to cover your shares...If you bought shares and they are in your account, they are yours. It is up to your broker and their MM to correct any FTD's.
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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quote:Originally posted by RichBy26: It is your brokers responsibilty to cover your shares...If you bought shares and they are in your account, they are yours. It is up to your broker and their MM to correct any FTD's.
From HSM:
Quote: Originally Posted by braveheart
Kent, sorry to be slow here, can you please confirm for me - but did you try to sell short, or did you try to sell outright 15K now unrestricted shares? TIA
Brave heart. I don't even know how to short a share. I was selling the shares outright. --------------------------------------
posted
(I can't believe I am saying this...) Calm down 10of13. the Post was HSM from someone who supposedly shorted 15K. Your shares are fine. Calm take deep breaths. It is that guy's problem not ours.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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quote:Originally posted by TaxBack04: (I can't believe I am saying this...) Calm down 10of13. the Post was HSM from someone who supposedly shorted 15K. Your shares are fine. Calm take deep breaths. It is that guy's problem not ours.
Brave heart. I don't even know how to short a share. I was selling the shares outright.
quote:Originally posted by TaxBack04: (I can't believe I am saying this...) Calm down 10of13. the Post was HSM from someone who supposedly shorted 15K. Your shares are fine. Calm take deep breaths. It is that guy's problem not ours.
OK I stand a bit corrected with that last post... but still the shares would have been borrowed somewhere. Margin account maybe? Broker to MM. In either case it is not us, and we don't even know if it is real.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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posted
That is my hope...but "things" aren't pointing that way...even my emails to and from the brokers have been very mislieading...and I simply ask "are my shares of CSHD that I hold in my portfolio "Good" shares of CSHD? Did "etrade choice broker" recieve a FTD on this stock that I should be concerned with?
One response was that "they are not to give advise about portfolios out but according to the latest PR I should contact Ben Stanley..."???WTF?
How is Ben going to know if my shares are "good" or if my broker recieved a FTD?
quote:Originally posted by RichBy26: It is your brokers responsibilty to cover your shares...If you bought shares and they are in your account, they are yours. It is up to your broker and their MM to correct any FTD's.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Originally posted by 10of13: That is my hope...but "things" aren't pointing that way...even my emails to and from the brokers have been very mislieading...and I simply ask "are my shares of CSHD that I hold in my portfolio "Good" shares of CSHD? Did "etrade choice broker" recieve a FTD on this stock that I should be concerned with?
One response was that "they are not to give advise about portfolios out but according to the latest PR I should contact Ben Stanley..."???WTF?
How is Ben going to know if my shares are "good" or if my broker recieved a FTD?
quote:Originally posted by RichBy26: It is your brokers responsibilty to cover your shares...If you bought shares and they are in your account, they are yours. It is up to your broker and their MM to correct any FTD's.
Not Ben's job to buy and sell your shares... Remember THEY work FOR YOU 10! Get a better answer then that...
posted
LOL..Tax...I am "calm"...I am pissed with the brokers and the circle talk they call answers...I have been trying to get a straight answer from them for nearly 2 weeks and so far I have nothing...AND? EVERY person that I email or talk to gives me a different circle talk...
quote:Originally posted by TaxBack04: (I can't believe I am saying this...) Calm down 10of13. the Post was HSM from someone who supposedly shorted 15K. Your shares are fine. Calm take deep breaths. It is that guy's problem not ours.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
This is strange, because as I had posted before, when I asked the same question, I was told this...
Thank you for your message regarding your position of CSHD currently held in your E*TRADE Financial account. After reviewing your account we found that there are xxxxx shares of CSHD currently held in your account. You are the owner of these shares of CSHD. You are long in your position of CSHD and do not have any shares short in CSHD.
I tend to believe what Tax is saying.
Posts: 528 | Registered: Aug 2006
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posted
listen guys, as long as you bought shares (does not matter which account, cash or margin) you own those shares. The only way you would be in a pickle is if you were shorting shares, which is borrowing shares from your broker in anticipation of the pps going down. Now, regular traders like us cannot short shares of any stock under $4. If you are really worried about the matter get your shares in certs, if you don't believe me call your broker...
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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I just got off the phone with the Restricted Stock Group at Fidelity to check on the SHO for 15,000 shares of CSHD I sold on the 15th. The answer: The transfer agent had rejected the request for covering the restricted shares.
Fidelity is requesting a reason the the rejection but this potentially mean that I will have to buy 15,000 shares at market price to cover those 15,000 sold on the 15th. More to come....
Was this guy trying to sell restricted shares?
Posts: 1453 | From: Wisconsin | Registered: Jul 2006
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I just blew another email out to Scotty demanding that they tell me that my shares are "real" and not FTD's. I emailed because I can print that out should I have to...
posted
Yes Vin..I remember...I made a comment on the fact I liked your answer better when you posted it...I ended up getting the same basic answer that you did...but them when I emailed another department..I was told to contact Ben...It doesn't sound as though we will have a problem "unless" we go to sell...then will we have a problem? When I inquired about getting my certs..I was told by etrade 4-5 weeks..choicetrade told me 1 week...the "concern I have is that if I get CERTS from the different accounts that I have...I will have to Pay nearly $250 and that is all good IF this ends up turning out the way we hope...if not I will have spent another $250 on some worthless paper... I have decided to leave them in the accounts and hope for the best...I am not selling at this point but will within the near future...depending on the news...
quote:Originally posted by Vin: This is strange, because as I had posted before, when I asked the same question, I was told this...
Thank you for your message regarding your position of CSHD currently held in your E*TRADE Financial account. After reviewing your account we found that there are xxxxx shares of CSHD currently held in your account. You are the owner of these shares of CSHD. You are long in your position of CSHD and do not have any shares short in CSHD.
I tend to believe what Tax is saying.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
I just say consider the source of the panic. "Oh no a guy on another site said we are "all screwed", just sounds too much like a couple of other stories that have been "played-out".
If your worried get your certs I certainly have concidered it a couple of times. I even went to the extent to find out if I can get a certain percentage of my shares I plan to be real "long in" in certs (Which you can, by the way.)
Whatever you do realize two things. (1.) Trading stocks is and can be risky. You are the one who is going to take the beating, not Wall Street, not the borker, not the chocolate with the colorful candy coated shell (MM), you. Protect your capital, and don't get over your head. (2.) Getting certs will slow your speed at making quick moves but will improve your ability to make a good solid transaction for the right reasons. If you are in this for the long haul an extra $50 for certs (transaction insurance) is not a bad idea.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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posted
Maybe I'm living on blind faith, but if we are truly the "owners" of these shares, I don't see why there would be a problem selling either. Let me tell you something, if it comes to a point in time when I sell and I'm then told I can't...look out! But I think we're ok.
quote:Originally posted by 10of13: Yes Vin..I remember...I made a comment on the fact I liked your answer better when you posted it...I ended up getting the same basic answer that you did...but them when I emailed another department..I was told to contact Ben...It doesn't sound as though we will have a problem "unless" we go to sell...then will we have a problem?
quote:Originally posted by Vin: This is strange, because as I had posted before, when I asked the same question, I was told this...
Thank you for your message regarding your position of CSHD currently held in your E*TRADE Financial account. After reviewing your account we found that there are xxxxx shares of CSHD currently held in your account. You are the owner of these shares of CSHD. You are long in your position of CSHD and do not have any shares short in CSHD.
posted
Quote: Originally Posted by braveheart ...does anyone understands kent's situation and wants to help me understand it please let me know. I thought i got it - that he had got shares unrestricted then tried to sell but was not honored, but apparently not.... *shrug*
TIA
Originally posted by Phil
from what little info he gave this is my guess. He sold shares that were restricted and unrestricted by filing a 144 and getting an opinion that allowed him to do so.
The market maker that represents his brokerage has now come back after the fact and has rejected the fact of the shares being unrestricted. In essence the MM has said that in their opinion the shares are still restricted and kentpump will need to buy them back.
Thats why I said he needs to call his atty and the sec. __________________ I gave up trying to reconcile this play with logic long ago. I just kind of watch these days.
Everything I have ever said in the past or will say in the future should not be used as investment or tax advice.
Posts: 1453 | From: Wisconsin | Registered: Jul 2006
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posted
I am not getting certs for any percentage of my shares yet. FWIW
I may if things look to be falling apart on the broker end. ETrade to date has not given me reason to panic.
By the way... FWIW through this entire deal. Little over two months now. I have not contacted my broker by phone, fax, or email even once. I have not had too, it is business as usual.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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posted
I'm not requesting my certs as of yet. I have contacted TDA a few times and everytime I ask they tell me that the shares that show up in my account are mine.
Thank you for your email. What does the term "Fail to Delivers" (FTD) mean? As far as your shares of Conversion Solution (CSHD) you own xxxxx shares held in street name at Scottrade.
Please let us know if you have any further questions.
Thank You,
Matthew H. National Service Center Scottrade, Inc. -------------------------------- I emailed them back again with link to NOBO list. I'll keep you posted..
quote:Originally posted by Chartwalker: Dear Mr. James Bond (my edit! he he! )
Thank you for your email. What does the term "Fail to Delivers" (FTD) mean? As far as your shares of Conversion Solution (CSHD) you own xxxxx shares held in street name at Scottrade.
Please let us know if you have any further questions.
Thank You,
Matthew H. National Service Center Scottrade, Inc. -------------------------------- I emailed them back again with link to NOBO list. I'll keep you posted..
You should email them the link at the bottom of your post and tell them to watch that as many times as it takes to comprehend it. Then Reply to you. You may not hear from them for some time though..
Posts: 32 | Registered: Aug 2006
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posted
Well.... I'm going to down to my local Scottrade office... been talking with my lawyer past week. I'm strongly thinking about getting some certs. I'm holding way too much to get screwed in the end. I'm likely putting together a legal notice that I have xxxxx shares and expect them to be honored when I choose to sell or direct legal action will ensue.
posted
Do you think that we're now getting to the point to where it's too late for a PR (during trading hours) today? A bit disappointing I think. Was kinda half expecting a real PR today.
Posts: 528 | Registered: Aug 2006
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