I drove by the client's house to see if they were home yet.

Just as I came around the corner I saw the mail lady taking one of those white plastic boxes up to their front porch.  It was obviously the mail that had been held while they were gone.

So I went to their front porch and got their statement and the confirmation from the purchase of those shares.  The sale confirmation was not mailed until today so I don't expect them to get it any earlier than Saturday probably not till Monday.

Before everybody starts piling on me I am going to put the statement back in their mailbox, but this way he will not see it until I have had a chance to explain what happened.

The stock is down 30 cents right now and I am going to just go ahead and sell it.  I can not stand worrying about this any more.  I will go see them sometime tomorrow.  I will call them and tell them that I am going to be around the corner and that I would like to welcome them back and hear about the trip.

Mostly I feel very good about this, but I guess there is still a chance that he could be pissed off.  But I doubt it.

Honestly, this is wonderful.  You have a very full fantasy life.  You should write for your local newspaper —AND GET OFF THIS FORUM YOU JERK!!!

[quote=vbrainy]Honestly, this is wonderful.  You have a very full fantasy life.  You should write for your local newspaper ---AND GET OFF THIS FORUM YOU JERK!!![/quote]

I agree.  I have been following this thread and am now 100% convinced it is a hoax.  There is no way someone would subject themselves to a federal offense by tampering with the mail system in addition to all of the other fallout.  I can't be convinced anyone would be that stupid.  And for what?  To save some as of charges?  If you were going to lie, you could have just called the trading desk and told them you mistakenly placed trade and made up the difference.  This is a joke.

pgdm has at no point attempted to rebuke the charge that this is a fake.

can you say lonelygirl17?

[quote=braves fan]

There is no way someone would subject themselves to a federal offense by tampering with the mail system in addition to all of the other fallout. 

[/quote]

It is impossible to be subjected to tampering with the mail.  I could keep the statement and all that anybody would think is it was lost in the mail.

They will get it on Monday, a few days late but mail is late all the time.

Of all the things I have done to get this to go away that is the one thing that won't ever come back to haunt me.

The more I think about it the better I feel.  I will be around to celebrate my retirement from the business in about thirty five years.

After just arriving at my wire house from EDJ per instructions from a large client I placed a good till cancel sell order on several million dollars in one stock.  If it went up to that price client wanted to sell.  Several days went by and I noticed the stock had popped up in value to past the sell price so I checked my screen and the order hadn't filled.  That's strange I thought.

The stock then dropped back down.  At EDJ, all orders were good till canceled unless other wise inputted...not so at my wire house as it turned out.  You have to put in GTC otherwise it is a day order.  So the order didn't fill because there was no order!  I was down $44,000 if I sold the stock when I saw the problem.   

I held on for a day many times almost selling but thankfully it went back up and I sold that sucker.  Needless to say, I sat here all day staring at screen watching volume and price on a second by second basis till it came back up to our price.           

As for the situation on this thread.  I'm enjoying it all.  Very funny.  I would like to hear some other real situations that people have been through. 

At EDJ, all orders were good till canceled unless other wise inputted...not so at my wire house as it turned out.  You have to put in GTC otherwise it is a day order. 

That isn't how I recall it.  Of course, it has been sometime ago, but I had to place the order as GTC otherwise it was a day order.

I learned the hard way to review my GTC orders frequently.  Had a client who placed a stop loss order at a certain level below the current market price.  As the market price would rise, we would edit the GTC order and raise the stop price by a dollar or so.   One time I didn't place the edit (Ok I forgot!!) and the stock dropped and sold at the older lower stop price instead of the price he had requested.  I had to make up the difference out of my commissions.   Fortunately it wasn't a very large position, but it still hurt.

Maybe you're right there BL.  This goes back almost six years now.  WHat ever it was, I screwed it up and it almost cost me a lot of money!  Does anyone else remember how the order screen was at EDJ prior to 2000? 

Would anyone have immediatly sold out and taken the $44,000 loss?     

I, too, am loving this parody of "life as a wirehouse broker."

For those of you into penny stocks, the SEC finally got some judge to see things their way today with some South Florida scum.

http://www.sec.gov

Check out the litigation section.

What's the deal with Florida?  It seems like every scam you can think of comes out of there.

Aside from Howe Street (Bucket Shop Row) in Vancouver, BC there's a 1.5 mile stretch of road (Federal Highway) in Boca Raton, FL that houses more cockroaches per square inch than a flop house. In case this "I hosed my client" stuff isn't a spoof, am sure PGDM can find himself a bucket shop gig down there if he wants one.

The mob has a big presence down there. The crims like it hot. Lots of retirees who like to gamble on rainy days (no golf) and miss Atlantic City.

I read the SEC litigation section daily and they've been on rampage down there lately (penny stock scams, stock promoters, boiler room boys).

There was an article in the recent RR I believe that said criminals just basically like the warm weather places.<!–
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[quote=babbling looney]

At EDJ, all orders were good till canceled unless other wise inputted…not so at my wire house as it turned out.  You have to put in GTC otherwise it is a day order. 

That isn't how I recall it.  Of course, it has been sometime ago, but I had to place the order as GTC otherwise it was a day order.

I learned the hard way to review my GTC orders frequently.  Had a client who placed a stop loss order at a certain level below the current market price.  As the market price would rise, we would edit the GTC order and raise the stop price by a dollar or so.   One time I didn't place the edit (Ok I forgot!!) and the stock dropped and sold at the older lower stop price instead of the price he had requested.  I had to make up the difference out of my commissions.   Fortunately it wasn't a very large position, but it still hurt.

On South Florida and boiler rooms/bucket shops, the best most recent

information on “what’s out there” right now can be found in the South

Florida Biz Journal.



Go to the archive section and key in “Jim Freer.” He covers banks and

broker-dealers for them. He has written several very in depth pieces on how

LH Ross blew up and the mob connections it had.



Why crims like it hot must have something to do with Miami Vice reruns. I

think they all are Don Johnson wannabes.

Wish me luck, I'll be having lunch with my client at his club at 12:45.  He actually called me.

He wants to discuss taking part of his portfolio and opening a separate account that he can use to speculate.  He said that a friend of his in Florida is doing that and keeps it all separate so he can know exactly how the speculation is going.

I think I will tell him he needs to own 500 shares of a certain stock I have in mind.

Since his mind is in speculative mode I think he will find my honesty about what I did and how I am making it right to be refreshing.

I do not think I will agree with him if he wants to do penny stocks.  Some of those older people in Florida seem to think that they are a good idea but I do not.

What the hell…

Oh are you kidding.  There’s plenty of great penny stock ideas out there.  You know, the ones with volume days of 200 or 300 shares.  You can get rich fast with that stuff.  Go for it dude.  Great job.   I hope you tossed his statement and his confirm in the trash.  Where did you day you worked? 

[quote=Malcolm]Oh are you kidding.  There's plenty of great penny stock ideas out there.  You know, the ones with volume days of 200 or 300 shares.  You can get rich fast with that stuff.  Go for it dude.  Great job.   I hope you tossed his statement and his confirm in the trash.  Where did you day you worked? [/quote]

Why would I throw the statement in the mail, he will want and need it.

It will be in his mailbox on Monday because I will drop it in the mail this afternoon after I give him the money.

I have this under control.  Thank you for your concern.

BR, it's like one of those really bad horror movies where the killer keeps coming back. Or as joe said, like athletes foot.

I’m waiting for his alter ego to jump in and battle, ala Freddy v. Jason or Alien v. Predator.  Who will win?  We don’t know…they both have issues.