After I read this..I had to ask some questions about X and the "things" that just don't seem right.
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Talk : Short-Term : Townsend Analytics, Terra Nova, and the Archipelago ECN
| ---------- | ------ | Respond |
To: +Mack (0 )
From: +EEL
Monday, Nov 23 1998 7:59PM ET
Reply # of 1
I used to trade at Day Trade Technologies in Seattle, Wa. They were a division of Terra
Nova. The company is soon to go out of bussiness. They had this woman named
Melissa who was having an affair with the married owner David , who was taking
money out of everyones account and putting it into a few select indidvuals accounts so
that they could hold over nite trades. I came in one morning to find that I had no buying
power, and she told me that she mistakenly took it out of my account,(along with every
one elses account in the room.)??? I called Terra Nova and they said that I had signed
for the authorization and transfer of funds, which I had not! They also used $200,000 of
another individual(chinese woman's) money and promised to pay her back with interest.
To my knowledge nothing was done about it. I quit trading there September 1997.
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Today I learned I had never been credited any time for either monthly costs or for tade cost reductions.
I have been told when my account was short buying power (money) that Southwest was to blame or MY ISP was connecting improperly. Yet George can call SW and get money credited without any proof that the amount requested is correct.
Is he really calling SW?
Can my account be short money or have more than it is supposed to without some other account not ballancing out? Would the aggregate of all X accounts be a ZERO sum type of calculation before market hours?
Why is it that many people using X/JBL and MB through TNT/SW have the same experience and yet only post privately about it? Is it fear of worse things happening? I don't know. I don't blame them. SOmetimes I wonder if I'm not the goofy one for bitching out loud. If our Banker ever pulled this crap we would be screaming through the bullet proof glass wishing we could strangle the guy.
Why is it that when I put in a SELL order, I lose buying power until it is completed? Why does George tell me it's imposible for this to be....and that my ISP is probably the cause..but it can't be. Yet the last time it happened, he was following my trade and said it was OK on his screen and that it can't be happening on mine. Yet other people tell me it happens to them. Could it be that when the buying power is "used" even for a few minutes, and this happens to everybody, and there are millions of dollars in this position each day that the margin interest charges for this time, which is only pennies to us, equates to big dollars to somebody else? I don't like it. ANd I may be 100% wrong.
Is this where I am supposed to say "this is only my OPINION"? Well it is. But what the hell is going on?
I have been reducing the money in my account to the point where almost nothing is left. I have purposely allowed a margin call to go unpaid. Sw is supposed to cancell my account. I wonder if this would have occured if the credits from X were where they are supposed to be, in my account and not somebody elses.
When I talked to George today..he didn't even know the right amount needed to settle the call. He gave me a range of 100%. Also didn't know ,after me owning this stock since around Christmas, whether or not it was even marginable. Sorry folks but this just won't do.
The following is an exerpt from a "X" "dinner chat". I wonder if this guy ever got his credit?
"8:35:53 guest403 {public msg} Thanks call you then.
18:36:21 guest403 {public msg} Hey why don't you show up more on
the Executioner Thread on Silicon Investor?
18:38:26 TechGeorge {public msg} guest 397... i never use mkt
orders on nasday. Only on nyse and amex
18:39:39 mk590 {public msg} georgr-What time does the seminar
begin and endon the 7th?
18:40:03 guest404 {public msg} George, when are credits for trades
applied to our accounts, have they ever been done yet????
18:40:31 TechGeorge {public msg} guest 403... I just posted quite a
few responses on Saturday. I plan to be on there more. I encourage
all of you to do post questions there. We have been hiring more
employees and I will have the time to review our thread more
frequently.
18:41:09 guest403 {public msg} Cool. You know who has a pretty
active thread. I would like to see the same for the X.
18:42:04 TechGeorge {public msg} guest 404...Do you mean ever?
Yes! The next credits will appear in the next 3-5 business days.
Please refer to your margin report. And look under your cash detail.
18:42:33 TechGeorge {public msg} guest 403.. I guess I will see you
there. Count on it!
18:42:58 guest403 {public msg} Great, and have a good night.
18:43:16 TechGeorge {public msg} mk590...the seminar is scheduled
to begin at 9:30 am.
18:44:08 TechGeorge {public msg} good night 403!
18:44:50 guest404 {public msg} Nite guys, thanks for the support
18:44:57 TechGeorge {public msg} Thanks guys and gals for
attending. Will see you here next week.
18:45:15 TechGeorge {public msg} guest 404. Our pleasure... Good
Night"
I am now told credits are done every 2 months....that ain't what I signed up for!
I don't actually know where to place the blame for this. But I know I have been lied to many times. I will never trade again with any firm related in any fashion to any connections of "x".
Shoot1st....straight.... and right between the eyes. |
