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Technology Stocks : JDS Uniphase (JDSU)
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To: Kent Rattey who wrote ()2/16/2000 2:35:00 PM
From: Sans Souci  Read Replies (4) of 24042
 
TD WATERHOUSE DOES IT AGAIN!!! This morning, TD "announced" that they REDUCED the margin allowed on JDU shares from 70% to 50%. In addition, they reduced the max. allowable to be lent to $250K. The reason given is the "high volatility" of the stock. What a joke, and what a typically pathetic, conservative, and negative Canadian attitude. So what if JDU moves by $20-30 in a day -- it's a bloody $300 stock!

Notice that NO ADVANCE NOTICE WAS GIVEN to existing holders of JDU shares, which means holders woke up to discover that their margin was suddenly out of whack. Would like your mortgage company to suddenly call in your mortgage? Holders like myself will be forced to add cash or sell something.

That's it -- I've finally had it with TD and am making plans to switch my accounts a.s.a.p following RRSP season. It was likely some 21 year old kid they hired off the street last week who made this decision.

Sadly, TD Waterhouse has become a joke within the trading community and has just lost yet another customer. Yes, they will continue to offer pathetic service, and YET... rake in the cash, but expect that to change in the coming months.

I suggest that anyone else who is not happy with this development let TD know -- and loudly.
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