BSC...I was long...Can i get my money back? What do you Think?

Quote from peilthetraveler:

Ok, i had a simple scottrade retail margin account. On friday I bought 120 shares of BSC for 36.63. I wasnt sure if it would go through cause I had bought about 5 other securities that week and i know pattern day trading rules are suppose to kick in for little guys like me. Well It went through, so i was like ok...i guess i didnt make more than 4 trades that week. Then I hear a few minutes ago...2 bucks per share for BSC. Totally screwed the shareholders by selling 11 billion in assets for 200 million. anyway if they can pull that kind of stuff maybe i can too! I checked my account and it seems that BSC was around my 7th trade in 4 business days. (Actually I had about 5 round trades, another one that open and BSC was my 7th) Now i know i've been stopped before from purchasing shares in stocks automatically when i hit that 5th trade with other brokerages. So what happens when a brokerage lets you trade more than you are allowed? Do i have to ask scottrade to reimburse me or the SEC?

Please dont post about its my own fault. Seriously, if the pattern day trading rules kicked in, i wouldve been safe from this and those rules were put there for a reason.
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Basically you are saying you want to stick your broker with this over a technicallity even though you meant to do it...
 
Quote from pcdunham:

but it is your fault. period
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Exactly.

Is there no one left on this planet willing to except responsibility for their actions and decisions?
 
you're trading real money? wow. well at least we know you didnt lose more than 25k(If you even knew that part of the PDT rule)
 
Quote from peilthetraveler:



Please dont post about its my own fault. Seriously, if the pattern day trading rules kicked in, i wouldve been safe from this and those rules were put there for a reason.
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So are you saying that your stupid and should not be allowed to trade? That seems to be what your saying.
 
Quote from subban:

Look on the bright side you only bought 120 shares. Its not like you lost the bank on this one. Just chalk up the loss and get back in the game.
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Exactly.

Let it go. It could have been a lot worse.

You entered into a risky trade, and got your ass handed to you (in no small part to Bernanke and his comrades - be sure to send him a thank you card). If you had bought 20,000 shares, and I guarantee you that some people did, you'd be readying the noose.

This is why government should stay the fuck out of the markets - the collateral damage is far too great to justify any mealy-mouthed, academic answer about 'financial stability.'

Let traders and investors regulate the market, create equilibrium, and help foster economic growth by allowing them to vote on the short side and long side with their precious dollars - get the fuck out of our way, Bernanke.

Oh, and a big F U to the new Republican Party, too, who talk a great game about small government and free markets, but keep tampering with the markets by proxy.

Milton Friedman rolls in his grave tonight.
 
120...you got off easy.

Dude, I had 2 round trip trades Friday in the low 30's one block each. Lost one and won the other. I am kissing the floor right now I got out. I've been where you are and it sucks man.

You have to eat it and it will burn.
 
I think you should be kicked in the face repeatedly for even asking this question (on behalf of the execs who have given 20 years to the firm and lost everything)
 
Could I ask a question? How about the CEO who was running around saying there is no problem? Could it be ground for a law suits? Is the sale fair? $2 for a $30 is really too cheap.
 
And you know i never would have got in that stock in the first place, but I just happened to check out the news and heard about the BSC bail out. The stock had gone from 26 to 35 and was climbing...when it was about 36 i put a market order to buy 120 shares and got filled at 36.63 It went to 37 and fell, but then it came back and i should've got out there, but i figured I'll let it get to at least 39 or 40. It never happened.

Oh and yes...i would stick it to my broker if i could. Why not? If the big guys dont take responsibility, how can he expect the little guy too?


You are right though. Its a good thing i didnt have 10k shares. Maybe I'll just stay away from the markets from now on.
 
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