posted
I was in on friday at .0012 and out at .0016 and I made a pretty decent gain for 8 minutes. Then I looked at crapped myself when I saw it at .0087 -- I coulda had a bunch of trombones
I felt like I had to get back in because I was basically kicking myself -- but we'll see! Good luck to all the people with restricted share problems, that's a nightmare.
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posted
Well dkinvest, I do believe they will try to have us, the shareholders, take responsibility. They are pretty much saying that they are the ONLY brokerage firm that didn't know that the stock was restricted until today. And that if they don't KNOW that it's restricted, we can sell/buy as we see fit. I mentioned again about the 3 day settlement rule and a trade being busted, but that too was passed over. I tried that since I SOLD short at a low price, the MM's could BUY it back cheap! They'd make a fortune They buy it back at what I sold it at, and resell it for 5x what they paid. That too was pretty much passed over, as the MMs aren't taking calls or wires about PAIV.
-------------------- "As long as there are dreamers, there are dreams that will come true."
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posted
I'm sorry folks, but enough is enough. I hate to be the kill joy but before this merger came about I had 2500000 shares of JPHC, and you know what, I still have 25000000. WHY, because I did my DD and I knew back then as I know now that JPHC as well as APOA would be resticted. As a matteer of fact I bought another 5000000 just before the the merger on 5/18/2006. I did this because it was a good investment. I then bought 200000 of PAIV for trading. Why did I do that? Because I did my DD Now as for the problems with Ameritrade or any other broker, they obviously have done wrong.But the ultimate wrong falls on the traders that sold when they new they were restricted or if they didn't know then they should have done there DD before pulling the trigger.
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posted
Pepsi, you're probably right, but, I called Ameritrade yesterday and asked why I couldn't sell. HE said I could.. and HE put the order in.. I didn't enter the order, Ameritrade did. HE wrote out the order to sell and HE entered it.
-------------------- "As long as there are dreamers, there are dreams that will come true."
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posted
As far as i know. i didnt know it was restricted. SO i called ameritrade and asked them and they said the same too. The next day i saw it . It was not restricted. Within minutes after opening i sold since i thought it was not restricted. I dont think iam responsible.
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posted
"They are pretty much saying that they are the ONLY brokerage firm that didn't know that the stock was restricted until today"
So ultimately they are admitting their own mistake. THEY(TDA) claim they didn't know about the restriction. What this means is THEY (TDA) didn't do the research that they should of done like the other "brokerages". Also, they granted these restricted shares prior to the allocation of merger shares from the DTC.
From PAIV's PR yesterday:
"The Depository Trust Company has confirmed with Paivis that no allocation of any Merger Shares has taken place by them due to the facts that the Merger Shares are restricted and that the Merger Shares have not been physically received by Depository Trust Company for further allocation"
So essentially, they have naked shorted MILLIONS of shares since friday.
I can not see how the shareholder/trader is responsible for their (TDA) screw up.
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posted
exactly pepsiman the underlying responsibility falls on the investor who DECIDED to sell restricted shares even though they were not so marked DO YOUR DD (MOST IMPORTANT ASPECT IN THE WORLD OF INVESTING RESEARCH RESEARCH RESEARCH!!!!!) investing is a non-stop search for information to make better informed decisions WITH YOUR MONEY!! investors must understand all aspects of what they are getting into (stock splits, mergers, acquisitions, dividends in restricted stocks - my favorite ones to get out of)before they decide to make impulse decisions
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posted
Great, but I call mastertrader 5 times before they finally figured out that I was right and that they were restricted. and that was yesterday morning at 6:30 when the market opened. I also called PAIV and then I called Bellwether reports to give them the heads up so they could research it out and let traders like you know that it was wrong to sell your shares that were restricted
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posted
TDA still is in the wrong since they gave the traders shares that were not allocated to them from the DTC. How can the trader be at fault for this?
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posted
how much of a loss did people sell this for thur or fri 80% or so, why would u sell for a loss after and not before merger!!! i meand yeah 80% down sucks but why sell for a loss, it isnt a loss until u sell, so why not hold on and see what happens instead of jumping the gun? patience is definitely key in some situations, kinda like this just my thoughts
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posted
Get off of your high horse. I saw that a stock that I was in was supposed to be restricted but was not, and I'm supposed to say "Hey, it should be restricted. There's a chance that the company didn't make them restricted and thus I'm free to trade them, but I think I'll do the right thing and watch it freefall by over 90%, just in case they really are restricted. I don't want to ruffle any feathers at Ameritrade!"
Get real.
quote:Originally posted by pepsiman: I'm sorry folks, but enough is enough. I hate to be the kill joy but before this merger came about I had 2500000 shares of JPHC, and you know what, I still have 25000000. WHY, because I did my DD and I knew back then as I know now that JPHC as well as APOA would be resticted. As a matteer of fact I bought another 5000000 just before the the merger on 5/18/2006. I did this because it was a good investment. I then bought 200000 of PAIV for trading. Why did I do that? Because I did my DD Now as for the problems with Ameritrade or any other broker, they obviously have done wrong.But the ultimate wrong falls on the traders that sold when they new they were restricted or if they didn't know then they should have done there DD before pulling the trigger.
posted
Don't you understand what TD Ameritrade is doing right now?? They are stalling... here, let me play out the scenario.
Top TDA execs are sitting around saying "Ok, we f'ed up. Our reorg dept. credited these shares and did not restrict them. Now, we have 2 choices. We can do forced buybacks and screw the investors and maybe face class action lawsuits, which may not be that bad because, if you read all our legal mumbo jumbo, Ameritrade is just providing a trading platform - the investor makes the ultimate decision. Or... we can break the trades and Ameritrade will be short all of these PAIV shares at say .001... so what do we do?"
Another executive is answering "Let's stall. Get NITE on the phone and tell them to manipulate the sh1t out of this and get it down to .002. If the share price drops, we will buy back in block orders, AND THEN break the trades for investors, making them happy."
They are playing a game of chicken... settlement date is tomorrow. If this stock doesn't drop, you guys better get your lawyers on the phone.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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quote:Originally posted by Superbee383: Pepsi, you're probably right, but, I called Ameritrade yesterday and asked why I couldn't sell. HE said I could.. and HE put the order in.. I didn't enter the order, Ameritrade did. HE wrote out the order to sell and HE entered it.
Your case may be different than others. Since your trade was broker assisted you may have an out. Others that traded online without assistance are on thier own. Read the guidelines. With no broker assistance we are ultimately responsible for our own trades..
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posted
PCola77 that is what a phone is for. I called several times. As I stated earlier post I called my broker yesterday morning and they were telling me they were unrestricted, but I knew different. My broker finnaly e-mailed me to let me know I was right. research, research, research!!!!
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RESEARCH IS THE KEY TO SUCCESSFUL TRADING!!! ever wonder why people always say "do your own dd" there you go!! JHPC - APOA - PAIV PERFECT EXAMPLE!!!!
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If you read through this post you'd see that I did in fact cal;l the broker, probably more times than you did. And I'm very proud of you that you didn't sell, but you're being a prick about this if you think everyone else should have watched the stock fall like a stone and say "I bet I can have an answer in 15 phone calls and 4 hours! I won't sell because I don't thikn I'm supposed to be able to"
quote:Originally posted by pepsiman: PCola77 that is what a phone is for. I called several times. As I stated earlier post I called my broker yesterday morning and they were telling me they were unrestricted, but I knew different. My broker finnaly e-mailed me to let me know I was right. research, research, research!!!!
posted
That would be great wallymac, but I tried that route too. I said that I called because I couldn't enter the order, and that THEY entered it.. what about THAT person?? Again, it was blown over. I know about arbitration, etc. I'm pretty sure my conversation would have been recorded, BUT, I also KNOW for fact that phonecalls, emails etc disappear when a customer needs them for proof.
-------------------- "As long as there are dreamers, there are dreams that will come true."
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posted
It's no different than if a bank was to deposit money in your account that didn't belong to you. If you spend it you are responsible to replace it.
Cause and Effect doesn't work there.
I hope the brokers have to pay but I doubt it.
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quote:Originally posted by wallymac: It's no different than if a bank was to deposit money in your account that didn't belong to you. If you spend it you are responsible to replace it.
Cause and Effect doesn't work there.
I hope the brokers have to pay but I doubt it.
How can TDA NOT be responsible for PAIV shares they gave traders that have yet to be given to them? That is exactly what they did, and they are 100% responsible.
Restricted shares or not, these shares should not have been given to traders!!!
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posted
pepsiman, sorry taht I made this personal with you. I'm just thinking about the people that could potentially have life altering consequences because of this "mistake", and I don't think those people need you here basically saying "I told you so!" People will no doubt learn a lot from this, but the wounds are still fresh and I respectfully ask you to step away from this thread for a bit if you're just going to talk about how you were right and everyone else was wrong.
It's your decision of course, but out of respect for people who may be deeply affected by this, I hope you see where I'm coming from.
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posted
DK - read your customer agreement.... they are your trading platform, not your broker. They don't offer advice... it is the public's responsibility.
Again, unless this stock drops where TDA can buy back cheaply, prepare to get the azz raping of a lifetime... it seems JPHC is good at that till the bitter end.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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posted
Nevermind the restricted, not restricted stock, etc.
What I am saying is TDA gave traders shares that were not yet allocated to them from the DTC. How can the trader be responsible for that? It would take hours of DD to check behind them, and should not be the responsibility of the trader. This is why we pay them commission fees.
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