Called TDAmeritrade last evening and requested to have ALL my shares (GORO and the rest) locked up so that NONE will be lent for shorting purposes. I also requested a letter stating so. This morning I got a call from TDAm that the letter is being issued this morning. When it arrives I will post it.....
Jim Sinclair strongly advises against it. --------------------------- Go look at the archives on jsmineset.com, Jim Sinclair said in May 2008 to STOP TRADING and that juniors would go up 1000%. 6 months later, most juniors were down 50-90%. Quit listening to that clown. Don't believe me? Look at the archives.
"You can always place a very high out of market sell order on your holdings."
This is a myth. It does not work and it will not lock up your shares. Take the time to ask your broker specifically about this and he will tell you this will not prevent them from lending out your shares.
Excellent news, Steady. This action by us longs is our best weapon against the shorts (aside from not selling). The company's best weapon, of course, is continuing its success in production. I will be ready within 2 weeks or so to have all my accounts transferred over to TDAmeritrade, which will force the lent shares in my E*Trade accounts to be called in.
Plus, TD has agreed to provide me a margin debt rate almost half of what I was being charged at E*Trade.
Amadeus, I will post the letter from TDAm once it arrives. Also, if you trade a lot as I do, call them and negotiate the trading rates. I am down to $7, limit orders. Do you know if GORO shares can be shorted in a 401k trading account??? I have GORO shares there as well...of course , no margin account there, unlike my TDAm....