Uncle: <my new sky page number> 800 396 1550. Anyone can reach me there. I am calling Donnie this morning. Just setting up my Dell Inspiron 7000 on a local ISP, called kpi. Love the price action today; must say I fully expected this. Feel the stock was being held back so favorite institutional investors could load up on the stock. It is too obvious. I hope that not too many beginners got hurt by all the artificial delay and pausing. I hate to see the institutions making the money, when so many individuals can really use an extra $100,000 here and there. Are we aware of the fact that Dell's announcement next week alone, is reason enough for the houses to manipulate the entire market, to the benefit of their essentially institutional clients? Does anyone really think the houses care about individuals? Even when "they" see our enthusiasm, all they have on their minds is their institutional clients. They don't give a damn, what they have to do to get Dell stock at good prices, for their favorite institutional clients. (And of course, one of their clients is the Dell internal stock option plan itself.)
I have a giagantic margin call due before the end of business tomorrow. Of course it is all luck (ggg) but the timing of my latest margin trap was excellent, if I must say so. But I may close out the position today, so that I am permitted by the brokerage policy, of beginning another one tomorrow---and that one would need to be closed next thursday at the latest. Tim, I hope you are looking into that data feed we spoke about, as I'd love to help you double your money! I was going to start doing call writing today, but I may have to change to Brown or something, because Schwab has me at thing called Level 1 options, which restricts me from selling ANY of the underlying stock, until a shorted call position, is entirely closed. Plan to ask Donnie and Don Martini for help, moving to a more suitable brokerage. Too bad, as I have really enjoyed Schwab up to this point, but recently have been doing block trades, which have not gone through the Schwab electronic execution system well for me. I think Schwab is too retail for me. It's almost as though they resent my success, with my margin trades. It certainly is odd that they would start to restrict me now, when my account equity is huge. They called me yesterday and told me that I have a concentrated position in Dell. That, after I have been doing nothing but Dell for my entire time with them. Anyone have suggestions where I can take my 31,500 shares? I know I've heard people speak of Fidelity and Brown, so I can start there. Also, it may help others to know that the Schwab "% equity" number on their web site, is always one day late, so it makes it especially difficult to hand calculate how close I am to margin limits, during the day. I was serious when I suggested that Mickey should buy Schwab. No one picked up on that comment, but I swear, whoever has the best electronic site, is certainly going to get alot of high quality business. It would be so easy for Mickey to make HIS version of Schwab, an absolute killer site. I hope some very wealthy investors go to Mickey with this idea. I don't care how much money they make. All I want to do is trade. What I want is real time account equity calculations. Anyone? |
