The one thing we dont need to hear

[mcelitetrader]

HLV is not being shutdown.

This problem is one that can and will be solved by HLV when all requirements are met. Trading should be back under way in the coming days. There is no problem with liquidity at HLV.

I spoke with HLV and this is the current situation.

 

[fhl]

The leadership of hlv had two previous daytrading firms that bit the dust. Doesn't mean that they were frauds, doesn't mean that it has to happen a third time. But, all of us here do play the odds game.
That said, I hope that it works out ok for all the hlv traders. Good luck to you.

 

[LU Trader]

McElite, somebody at HLV on the phone said they personally sent out the checks last Thursday, another staff member said "Yes, it looks like they were sent on the 25th", and "I don't know why you haven't gotten a check yet, they were all sent out", etc.

Then this week, when you asked them why the check has not arrived, they said "Let me go check." Then they came back in a minute and said, "Oh, apparently, we can't send out any checks at all." If anybody can tell me what they were "checking" before answering my question as to why my check has not arrived, given that such a big event as not being able to send out checks company-wide was happening, that person deserves a prize.

Anyway, my point is just because HLV says there is no problem doesn't mean there is no problem. If you phone up the NASD, they know nothing about a review of HLV's problems, as HLV has claimed - they will tell you that they have no right to ask for a review of HLV.

Having said all that, I am still crossing my fingers that everything is okay. It is possible that the NASD was asking North American Clearing to check up on HLV's account, so the people at NASD wouldn't know anything about HLV directly. But it doesn't look good based on HLV's deceitfulness - something is going on.

 

[maxpi]

Reminds me of when I owed Tony from New York some money. I told him I was having a cash flow problem and he said "You are not having a cash flow problem, you have an insufficient funds problem". I found the money pretty quickly after that, it must have been the way he said it

 

[cashonly]

Quote from momo trader99:

I understand a ton of guys are looking else where. We had a bunch enquire today.
gl to all
momo

Yeah, same thing here. inquiries are up for us also. I hope no traders get hurt on this.

Cash

 

[SammySOESa]

just got this email: (AOL's mail server can be a little slow at times, so some may have already gotten it)



To all HLV Traders:

The NASD has given us a 100% guarantee that we will be able to resume trading as of tomorrow morning.

We have heard many rumors over the last few days in regards to the viability of HLV. Many naysayers have said we were bankrupt and going out of business, plus a number of other false statements.

We can assure you that HLV is in good financial standing and will continue to grow and prosper.

Again, we apologize for the inconvenience and we look forward to years of success ahead of us, with you as our partners.


HLV Capital

 

[Jduce]

Hey Sammy, I have seen you post your P/L on a diffrent thread and your good for 5k a day, how does it feel having lost 25k because these clowns didn't have sufficient funds up, and got hit with a margin call. They make it sound like an ecn went down (no big deal) I will be looking for a new firm, been PMed from some, will be giving them all a call in the coming days. My advice to other HLV traders look for a new home, there's only so much us traders can take from these vultures at HLV. I'AM SHORTING HLV

 

[SammySOESa]

Quote from Jduce:

Hey Sammy, I have seen you post your P/L on a diffrent thread and your good for 5k a day, how does it feel having lost 25k because these clowns didn't have sufficient funds up, and got hit with a margin call. They make it sound like an ecn went down (no big deal) I will be looking for a new firm, been PMed from some, will be giving them all a call in the coming days. My advice to other HLV traders look for a new home, there's only so much us traders can take from these vultures at HLV. I'AM SHORTING HLV

oh i'd never put up that kinda $$ in an un-insured account. i only put up $5k, so i'm well into "house money" by now. i wouldn't wanna lose it, of course, but i'm not sweating it one way or the other. i managed to do all of my daytrading from my retail account this week, anyway.

i'm staying positive. i don't think they would have switched us over to the Sterling platform if they didn't plan on sticking around. they coulda shut down after Omni Pro was phased out. (i like Sterling MUCH better than Onmi Pro, by the way, so i'm happy about that..)

 

[sowsaw]

SammySoes,

I noticed you are using e-trade pro to trade, why are you sticking up for HLV when you are not even using their platform.

Maybe you have another side deal with them does not matter anyways.

I have not seen to many happy HLV traders recently they are all upset with HLV and I think HLV will survive as a firm because there is always another idot around the corner who is willing to trade with them.

Very unfortunate for the industry that companies like HLV continue to exist.

Just my humble thoughts

 

[SammySOESa]

Quote from sowsaw:

SammySoes,

I noticed you are using e-trade pro to trade, why are you sticking up for HLV when you are not even using their platform.

Maybe you have another side deal with them does not matter anyways.

I have not seen to many happy HLV traders recently they are all upset with HLV and I think HLV will survive as a firm because there is always another idot around the corner who is willing to trade with them.

Very unfortunate for the industry that companies like HLV continue to exist.

Just my humble thoughts

i never said i was happy about the current situation. it just doesn't phase me. i have a 2 e*trade accounts, an Ameritrade account, a Lehman Brothers account, and an HLV account. i just opened and funded a new CyberTrader account this morning. they all have different commission packages, and serve different purposes. if one goes down, i use another.

am i happy about this current situation? of course not.. but i'm not gonna cry about it either. to other people, it may be a big deal. to me, it just isn't.