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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Linda Kaplan who wrote (9961)1/29/1998 10:41:00 PM
From: Jack Zahran  Read Replies (2) of 31646
 
For all purposes it appears that TPRO tried to engineer the Margin approval to coincide with the shareholders meeting. It appears that the advanced schedule of approvals went out with TPRO on the list of margin candidates. The the broker-dealers are supposed to make the final decision whether and when to allow their clients to borrow against TPRO. As you can imagine, brokers like Datek want you to borrow on margin as much as possible to get the interest revenue. They seem to have the fastest aproval cycle. Other brokers probably take a re-active approach, waiting for their customers to bring it to their attention since their internal approval process is probably very slow.

The brokers who are telling you that it has not been approved yet are not lying but their not telling the truth either. Most likely it has been approved by the Federal Reserve Board, but not the broker yet. They are probably just trying to buy time by pointing at someone else. Or they may want to make sure their in-house traders had time to cover their short positions before they gave their clients the buying power to squeeze them out. Keep demanding margin and tell them that their competition is giving it.

In the meantime, we'll try to find out what the heck is really going on.
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