Recent content by gtcharlie

Read my previous post. Speaking for me I am not comfortable with it and will continue to look closely for alternatives.

Almost like they listened to what I have been saying all along. Certain stocks should definitely have been excluded from the list and although I still disagree with eliminating all margin for small cap stocks this might enable me to stay with IB awhile longer. Not comfortable with that type of...

The problem with your statement is that IB threw a blanket over everything with a market cap of less than 250 million. Preferreds, closed end funds, stocks with little volatility. To me that is a lot like some of the decisions the SEC makes and we all know how wise some of those have turned...

I suppose you feel the thread about the 1/4 percent transaction tax thread is a bunch of whiners who just don't know how to deal with change. This is not a minor change. It is very significant if you use IB and cannot be "dealt with" if you trade small cap stocks.

Agreed 100 percent. We all know there are many ways to skin a cat trading and to say using margin in these stocks "is not smart" doesn't take into account various strategies one can employ trading smaller cap companies.

I have a hard time believing people on a web site called elitetrader would support such a move on the part of a firm like IB. Making comments such as it is not a game, you agreed to the rules, etc doesn't take into account the way the rule was implemented and the time frame traders or investors...

I am fortunate enough to have an account with another broker with whom I can hold this type of position. Unfortunately IB comes in very handy in certain trading situations where I trade large quantities of inexpensive stocks albeit not in single trades. And I agree with other posters who say...

That is what I was wondering also. Don't really see volatility decreasing significantly in the short term so it could be awhile. My guess is that they will lose a significant number of customers. I could certainly be one of them.

Should have mentioned I need portfolio margin. Am I wrong or is that something Lightspeed does not offer. Couldn't see anything about it on their website.

It will significantly affect how much I use IB for sure. I am fortunate enough to have another account to use but not one that is competitive with IB ratewise. That is why I am looking for an alternative.

Thats what seems so brutal about this blanket approach. Includes preferreds, closed end fund, etc. Who makes these decisions and based on what?

Unfortunately the way I trade a per trade commission could easily amount to more than 1K per quarter. I would have to run the numbers to see. Anyone other than E-Trade?

Anyone else get the e-mail about IB no longer granting any margins on stocks with a market cap less than 250 million. Seems like a pretty big change to me and will cause some pretty good liquidations by the time it is implemented this Friday. Can someone suggest a simliar retail firm cost wise...

Naked short selling is selling a stock short without first locating a borrow of the shares for future delivery.