quote:Originally posted by chevon2020: Hi, Im new to this thing so I hope I dont sound ignorant. How is the price moving is the share are restricted? I'm with choicetrade I put in a limit or to buy a few thousand shares, it didnt go through, but choice trade said nothing about it being restricted.
Anyone have any insight for me thanks
Well, not all shares are restricted, so tradin keeps going.
As far as your order, the bid/ask may have moved up, buy the time of your order...
-------------------- "Remember... no matter where you go, there you are." - Mad Max Beyond Thunderdome Posts: 261 | From: BFE | Registered: Jan 2005
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Thanks Nomed. That is pretty damn cheap, I will check into choice trade. I see alot of people here use them and have heard no complaints. ON a side note...PAIV came out with their financials this morning. Not the best but by no means not the worst I ve seen. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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UPDATE!! I just got off the phone with Deshawn with Ameritrade Reoganization department.
I tore into him pretty good for 20 minutes.
He said he just received an email from Mike Gonzales his manager that says people who purchased shares on the open market yeserday or Friday should be able to resume trading within 30 minutes.
This is from ameritrade directly.
I will be calling them back if not.
I will also be holding my shares for now. If everyone starts selling it is exactly what the shorts want.
Posts: 730 | Registered: Mar 2006
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This thing is gonna go through the roof! Don't sell. Hold strong people. We who read the news all along are now getting our shot at the moon! GLTA
-------------------- "The greatest risk is to take no risk at all" Posts: 54 | Registered: Apr 2006
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I'm holding... I just want the OPTION to sell, this better resolved in 30 minutes like they told me.
Posts: 730 | Registered: Mar 2006
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-------------------- "Remember... no matter where you go, there you are." - Mad Max Beyond Thunderdome Posts: 261 | From: BFE | Registered: Jan 2005
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PAIV itself isn't restricted, BUT if you owned JPHC which became PAIV, then it is. APOA which became PAIV is NOT restricted. Here's the problem with Ameritrade.. and trust me.. I found out the hard way. I had 2 mill shs of JPHC which became 924,641 shs of PAIV. I have a margin account, so I'm able to sell short. I called yesterday and said I wanted to sell my shs of PAIV, but couldn't enter the order myself. He said he'd enter it, and they sold. So I was short 924,641 (still am too) of PAIV. TODAY I have a margin call, and this is NO exaggeration of $2,308,755.63. I called and asked if they were nuts first.. 2mill for a subpenny stock???? He told me that they were restricted and I asked why THEY put the order in for me if they knew it was restricted!!! He said they didn't know it yesterday though. I told him that E-trade, Rushtrade, and every online freakin trading house knew it.. how come Ameritrade didn't??? What it comes down to is.. They are trying to get hold of the SEC to see what is being done or can be done about the restricted JPHC (now PAIV) stock. There is an SEC rule that a trade can be busted within 3 days.. hence the 3 day settlement of a trade. I asked the guy at Ameritrade why it can't be busted then. He said they're checking into that too. He said there were ALOT of trades yesterday and ALOT of margin calls.. which didn't really make me feel any better.. but he is checking into it. Until they find out from the SEC what the rulings are, they froze PAIV from being traded (if you had JPHC). He did wire the Margin Dept and told them NOT to sell out my account, but my account is frozen as far as buying goes. I can sell, but not buy. My main concern is (besides the 2.3mill$$ margin call) is that I don't think they'll bust the trades, unless ordered to by the SEC. If the stocks have to be bought back, I can't see Ameritrade putting up the $1000's needed to cover everyones trades, for THEIR mistake.
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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Crazy isn't it? They said their margin requirements are higher for a penny stock. I basically told them they were nuts. He said that's what it's showing in my account, but not the actual amount I'd owe.. which still doesn't give me the warm fuzzies. This is a copy/paste if it comes thru ok Maint. call -$2,308,755.63 A maintenance call is issued when your account value drops below our maintenance requirements due to changes in the market value of a security or when you exceed your buying power. Maintenance calls may be met by depositing funds, selling stock, or depositing securities. TD AMERITRADE may forcibly liquidate all or part of your account without prior notice, regardless of your intent to satisfy a margin call, in order to protect your interests or ours. Current Value -$2,308,755.63
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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I won't quite say it worked out, I still took a beating on this whole mess. Once everything's ironed out completely i'll have to write one big post about the whole thing. You guys should all get a good laug hout of it. I think I played this almost as bas as I possibly could, with the exception of if I had not bought back at all.
quote:Originally posted by TheCreator: Glad it worked out for you cola...
I hear ya it's a mess... I just wish ameritrade would get this worked out...
i understand the people that have to buy back, but i also understand that i need the money just as bad as them...
gl to all no matter what your position.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by no_patience: Ameritrade -
REORG - REVERSE ERRONEOUS REORG FROM 5/19/2006 (PAIV)
LOL! Good one.. thanks no_patience.. I needed a laugh.. first one today too!
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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quote:Originally posted by Superbee383: Crazy isn't it? They said their margin requirements are higher for a penny stock. I basically told them they were nuts. He said that's what it's showing in my account, but not the actual amount I'd owe.. which still doesn't give me the warm fuzzies. This is a copy/paste if it comes thru ok Maint. call -$2,308,755.63 A maintenance call is issued when your account value drops below our maintenance requirements due to changes in the market value of a security or when you exceed your buying power. Maintenance calls may be met by depositing funds, selling stock, or depositing securities. TD AMERITRADE may forcibly liquidate all or part of your account without prior notice, regardless of your intent to satisfy a margin call, in order to protect your interests or ours. Current Value -$2,308,755.63
If I'm not mistaken I think I remember reading something about their Insurance will cover things of the sort. I am not sure but something to look into if your butt is on the line!!!!
-------------------- I buy fast and sell faster! Posts: 2018 | Registered: Jan 2006
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Thanks Moneyx3. I'll definitely keep that in mind if they try to pull a fast one on me..Also, since he said that this happened to so many people yesterday, if they DO try to put the screws to us, maybe as a group we can get more accomplished. I'm still in the stunned stage right now..
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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They'll break the trades and buyback when this stock tanks... you're not going to be stuck with margin calls, trust me. Ameritrade doesn't want lawsuits. They have MM connections with NITE and TDCM and will crush this stock after breaking the trades so they can cover cheaply.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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Repo.. sure, WHEN the stock tanks. But what about now? The stock goes up, and my account value goes down. I'm down 7k today because of PAIV going up. PLUS I can't buy anything! My account is locked up from buying. Well I hope that NITE, TDCM, and UBSS will buy back.. but holy moly..till then, all I can do is watch.. geeezus I wish they'd hurry up and call me back, and bust that trade.
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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I just called Ameritrade and the guy couldn't tell me what's happening, he said call us back later... I'm showing JPHC shares in my account again
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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Stay strong. This selloff is from profit takers from ameritrade investors. This is just a dip. It is going to be comming back with full force! The moon is looking sweet. We got out all the profit takers and now it can go up HUGE! This is a great buy point.
-------------------- "The greatest risk is to take no risk at all" Posts: 54 | Registered: Apr 2006
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