Quiet, I'm not the one to ask for this. I'll shoot from the hip and give you my view briefly. . .you might not like it.
When you gave broker power of attorney to buy and sell your stock on your behalf, you gave up rights to making your own trading decisions. If he makes stupid trades each and every time, then that is the price you pay for not taking care of your own business. Now if the broker sold all your Intel into today's market weakness, then turned around and bought a crappy OTC and lost 80 percent of your money, you might have a lawsuit. As for the 5/16ths, you can have the broker check the time and sales log to see if you were due an execution at 5/16ths or not. . .or just ask them why they said you would be out at 5/16ths. . or did they just give you 5/16ths as the most recent trade [which could have been a buy] ? ? . . .then executed your trade, which went thru at the bid. The fact that they called you to let you know what their intentions were, in my opinion, was merely a gesture to keep you informed of their intentions. If you did not specify that they could NOT trade without your confirmation, then they needn't notify you until after the trades. I think you should maintain your own accounts and take defensive positions where needed, then just let things ride long-term and not worry about it.
Again, these are shots from the hip and I am not a lawyer, so do not use these friendly views and opinions as legal advice. It is not. If you wish advice on your legal matters, you must seek that from a licensed professional.
Hope this helps some. . .I realize it is not what you WANTED to hear.
Best wishes to you, Quiet.
Rande Is |
