To All: C h e a t i n g... by PBS.
Not about INTL but..
On 6/13 I placed order for 1100 of ZEUS at a limit price of 24 7/8 when the price
was around 25 1/4 -- 25 1/2. Why 1100 share? I have noticed that some of my
trades seem not had been traded farily before. So I begin to place order at number
of 400, 900, 1100, 1400, 1900,.... in order to indentify MY TRADE through my
on-line real time system, where I can see every trade traded.
15 minutes after I placed the order, price drop raptly to 24 1/4 - 24 5/8. I saw a
trade of 1100 traded at 24 5/8. Later I got a confirmation e-mail said 1100 were
done at 24 7/8. I sent an e-mail to my brokerage company said I had
question about the u/p and hinted its price could be lower. On 6/14,
you can imaged, 24 7/8 was the answer, of course. On 6/13 I did several trades,
whose quantity all were uncommon # s like I said above. So I called PBS again and
asked them to tell me the order enter time and execution time of each trade.
The first two answers had exactly the same quantity and time as I got on my
0n-line screen. But he told me my third trade, ZEUS, still was... done.... at 2:04
at .... 24 7/8( lie?) . I told him that at 2:04 there were no any trade's qty was 1100
and no any u/p was 24 7/8. Then he asked me to hold on. After coming back he said
a trade of 2,000 at 24 7/8 traded at 2:02 was mine (lie?). "How come?" I asked. He said
sometimes the trade maker will combine several trades to become one trade ( lie?).
So 1100 out of the 2,000 shares were mine. Then I told him that at 2:11 there was a trade
of 1100 shares traded at 24 5/8. I forgot what he said about that, but he ask
me to hold on again later. "Good news!" he came back and said , "we will give
you the lower price and another guy will explain it to you. The another guy said
that he just checked the records and felt strange too. So he called the trader
a couple minutes ago (lie?) and now they decided to give me the lower price......
This is a SSSsad story and a BBBbad news to all of us. If they really can
proof the high price was correct. That is a GGGgood news because that means
they are not cheating. But now ...
. . . THEY DID, THEY COULD, and THE WILL....and WILL AGAIN.... . . .
For 99.99% of us have NO WAY to monitor each trade like I did this time.
Also this is not the first time. I remember a couple of months ago
SAME situation happened. After receiving their confirmation e-mail of the
original u/p, I dropped that case.
What else can I say? What else can we do?
Fortunately, now our small investors can use internet to speak out and warn
each other.
Thank you for your time. Sorry, I don't not which thread should I put this. So I
choice the most popular therad to share my "good" experience. Maybe we could
open another meanful thread, called "The lessons" or other better name, to
share different kind of lessons happened to us.
Take care! Pat |
