Steve, more on the TDA Chill. As you know, ICPA i
Post# of 45510
Steve, more on the TDA Chill.
As you know, ICPA is NOT on the DTC Chill list. It appears to be a TDA Chill. Why? My strong *guess* is that it's associated with Knight Capital's near-death experience caused by the computer glitch ($460M loss and growing). TD Ameritrade helped rescue Knight along with Blackstone, Getco and others to the tune of $400M.
A slight aside. Knight being Knight, what's a little crisis? During the trading debacle, "One market participant familiar with Knight's order flow at a U.S. exchange said volumes from Knight were only slightly below average, and it appeared to be Knight largely trading its own positions, rather than customer orders."
Anyway, TDA (9.25% stake) and Knight have long been buds since Knight's IPO in 1998. I'm resisting the urge to get raunchy here, but let's just say Knight OWES TDA.
So now, a mere 2-1/2 months after the rescue, suddenly TDA is STOPPING buys of many stocks, including ICPA, which are NOT on the DTC Chill list.
I think questions can be asked. Is Knight giving TDA entrée to its vault of stocks, meaning preferential treatment? Is TDA via NITE (and other MM's) shorting stocks in order to pay off the multi-million dollar rescue package given to Knight? All hail ROI for TDA's nervous shareholders.
As mentioned, TDA is my broker, no complaints. However, if the above is true, TDA and any colluding friends should be FRIED. Class-action suit via your securities lawyers?
Again, only a possibility. Hope I'm wrong.