posted
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.
"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."
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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.
-------------------- "As long as there are dreamers, there are dreams that will come true."
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posted
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
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 .
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