Guy et al,
Re: Schwab IPOs - getting thru to rep
For some reason, I've NEVER received a busy signal from Schwab IPO desk. However, I get the usual message that "there may be excessive hold times". I remember for one issue, I was on hold for over an hour. When the rep finally picked up the phone, he was able to see how long I was on hold from a readout he has. On busy IPO's, I use my speaker phone, dial in and just go about my business on the net until answered. As I mentioned in a previous post though, recently I have not had to wait more than 15-20 minutes or so. If you want the best chance of getting through, I'd call as early as possible while the Californians are still asleep.
Anxious to hear if I get Critical Path (CPTH) Monday. This one will soar bigtime as the price has already doubled from original plan. I'm Signature Platinum also and was told that Schwab was only allocated 40,000 shares of Perot Systems, but since I was lucky enough to be one of 400 Schwab customers to get them, I'm holding out hope on CPTH too.
My feeling is that as more and more people become aware of how easy it is to get a good guaranteed return on Schwab IPOs, it will become harder and harder for us to get them. To improve my standing with Schwab and to keep high on the priority list for IPO allocations, I just cancelled my Datek account and MB Trading account. (These accounts were small and most of gains were from Schwab anyway.) Schwab has treated me marvelously regarding IPO allocations and I want to ensure they continue to do so by seeing that they get my commissions rather than the other discount houses that don't treat me as well. My IPO gains in the past 3 months has more than paid for my trading commissions the past year. Such a deal, huh????
Happy Investing....Let me know if you have any questions that remain unanswered.
Gary |
