I guess it is time to finally take my account
away from etrade. If it is true that some of the
people on this thread have been able to sell as
high as $1.50 within the last hour, then etrade
has, for the second time, done a very poor job for
me.
I had a very reasonable target of a buck a share
and I have not been able to sell any shares, either
through speaking to a live broker, or over the internet
using etrade.
I placed an order to sell 10,000 shares at 1 1/4 an
hour ago, it did not execute, when I called back at
11:00 edt, the fellow who answered my call was away
for about five minutes and returned with a bid of 7/8ths.
Clearly there are people making money on this today, but
it is not me.
So, even after etrade has made thousands off of me this
year in commissions--not even to mention the spread their
MM's have made on each trade, I am now looking for a new
broker.
Any suggestions?
Oh and don't worry, they'll get their nasty letter, cc'd
to the SEC or whoever is appropriate. This is the second
time my trade has not been executed--the last time was
when I tried to buy mine the day it ran up. On that day
I had an order in to buy 100,000 and watched it march up
from less than 1/4 to above 3/8ths--and you know where I
finally got mine.
The etrade rep said "well, they were probably working the
order", I think he meant, "they were probably working you over",
hehe.
Bottom line, you may be able to make money at this, but
somebody else will make a lot more. I shudder to think
how much I might have made in MINE if my trades had actually
executed--several tens of thousands of dollars likely, rather
than $5000 (which is what I will make if I move my order down
to that bid of 7/8ths etrade quoted me).
Well you have to draw the line somewhere, and so I leave my
order in there at a buck--one must keep to his discipline, and
although I should have had an extra $2500 for that 1/4x10k, I'll
just let the order cook at a buck, which has always been my target.
This reserves 5000 shares to have and hold til the whole thing
pans out.
Of course, since etrade will never execute the order no matter
how high this thing goes I guess I'm still in for the full
amount.
Just terrible, SEC: thanks for nothing. |
