Comments on: Ameritrade restricts trading of BIEL and HTDS

By: Nour Douchi

Nour Douchi — Wed, 23 Dec 2009 21:56:15 +0000

I know the feeling. Consider ZVTK, for example, a company on which I wrote an article and published it on this site at http://www.favstocks.com/zevotek-poised-to-explode-like-spongetech-delivery-systems-otc-zvtk-otc-spng/131969/

That was on November 13. Had you not been able to buy, due to the same restriction, you would have missed out on the nearly 4-fold explosion within six weeks so far.

Nour

By: Carlos

Carlos — Mon, 21 Dec 2009 14:41:23 +0000

I’ve been having the same problem with HTDS. I use scottrade and I just can’t buy only sell. I called up my office twice and another office located in a different city, coming up with no explanation. Finally called up the main office and now I’m expecting a return call from Scottrade’s complaint office 800 8881980 ext 1900. I’m asking them to explain in-detail and at the very least, please send info by e-mail or letter as to when “buy” will be lifted. A copy of my complaint will be sent to securities exchange commission as well. I suggest everyone else to the same. I’m beginning to believe what everyone else has listed here. I’ll post later the results of Scottrade’s return call.
Carlos

By: DTaylor

DTaylor — Thu, 17 Dec 2009 16:38:18 +0000

This is so frustrating!!! Investors do so much research finding small companies with huge potential. We know sometimes we will be wrong and lose money—that’s part of investing/trading. BUT– WE ARE ALL TRYING TO FIND THAT ONE COMPANY THAT SKYROCKETS AND MAKES US LOTS OF MONEY!!!!! Ameritrade and scottrade are DENYING us this opportunity!!!!! I only invest money that I can afford to lose(as most responsible traders), so Im prepared if a stock loses value. BUT TO DENY INVESTORS THE OPPORTUNITY TO SEE THEIR TIME AND EFFORT TURN INTO REAL PROFITS IS DEPLORABLE AND SHOWS A TOTAL LACK OF RESPECT!!! SHAME ON AMERITRADE AND SCOTTRADE!!!!
DTaylor

By: Nour Douchi

Nour Douchi — Thu, 17 Dec 2009 13:15:56 +0000

You hit the nail on the head, Prashant!

The alternative is to find a brokerage firm that you can trust.

By: Prashant

Prashant — Wed, 16 Dec 2009 21:27:57 +0000

The idea is not just to be able to ‘sitch’ and buy the stock with another broker. I am sure there are brokers that allow buying for BIEL.

What is noteworthy is whatever makes BIEL ‘un buy-able’ for one broker, does not do so for others. Is it something that brokers can do at their discretion? Do these brokers have some information which investors like you and I don’t have? If yes, then this could be graded as inside information. This is completely manipulation and hurts the small investor.

Switching and buying is a work around but not an root cause analysis of ‘why this is happening’.

I have received an ‘I dont know’ from Scott as well as Ameri ! I was also told that they can change this ‘intra day’ hence allowing investors to buy only when they want during the day ! If they are allowing only sell, then what are they doing with the stock? keeping it, selling it to some other broker?

A Fellow Investor
P

By: Youcef

Youcef — Wed, 16 Dec 2009 13:55:09 +0000

Scottrade does the same thing also. they put a restriction on this great stock without giving any meaningful reason … called them few times and no one can explain why the stock is restricted… all they say as a matter of the fact is that …the transaction are hard to process when dealing with BIEL… to me, it sounds nothing but a bunch of BS….

GLTA

By: rubitz

rubitz — Wed, 16 Dec 2009 07:07:19 +0000

one word: Choicetrade.

By: Stephen

Stephen — Tue, 15 Dec 2009 18:10:32 +0000

TD Ameritrade ALSO restricted my buy orders for another stock, ASFX. They did this once in the recent past ( before the stock spiked ) and again, last week and continue to block BUY orders, but they will be more than happy to let you sell the stock. Seems extremely fishy and without reason. I looked into it a bit more and found the connection of TD Ameritrade and Knight Capital, and well .. do some research and maybe you will find out why TD blocks the sale of certain stocks with amazing potential …

By: Nour Douchi

Nour Douchi — Tue, 15 Dec 2009 18:00:11 +0000

Imad,

With all due respect, when I called Ameritrade, not one single explanation was provided. The information you provided was not disclosed by any representative I spoke to. Not only that, what you said virtually applies to so many companies that are not on a buy-restriction list.

Nour

By: marty

marty — Tue, 15 Dec 2009 17:32:22 +0000

MOVE YOUR ACC to ZECCO