You are full of shit. I have 2 Schwab accounts with GRMN in both, one for long term hold and the other is for short term trading and I didn't receive this offer for either account. If you play with margin account with a long position, they charge you interest, meaning when you buy, you borrow cash and you pay interest. But if you short a stock, they don't pay you and you don't pay them anything. The only thing you pay the brokerage firm after you cover the short position is the dividends (if any) paid by the company to the shareholder on records while you hold onto that short position. When you short, you borrow stocks and you pay back in stocks, no cash involve here, so you don't pay anything. If the shareholder on record wants to sell his/her stocks and if the brokerage firm has no stocks on hand, they can call on you to cover and pay back the stocks. If you don't cover, the brokerage firm covers for you, they buy back those stocks in your account and you now owe them money if the cover price is higher than your short price and you keep the difference in profit if the cover price is lower than your short price.
Please read this following article to educate yourself on short sales.
I have 10,000 shares on my long term hold account and 2,500 shares in my short term trading account. I am not interested in calling Schwab for this because I know about shorting stocks, I know it from personal experiences. I have long positions in many stocks and I short stocks for profit too. Today I have lots of short positions in real estate, mortgage and bank stocks.
Uh... geez wee... a genius is talking... uh... thanks genius... for letting me know about the basic on shorting. Why don't you tell me something that I don't already know? I have been trading and holding for long and short terms for 23 years so far and I don't know everything.
Edison20: Why would I be interested in calling Schwab for this? Give me a good reason. The way shorting work is brokerage firms don't need to get our permission to loan out our shares. Even if my shares have already been loaned out long time ago to someone else, I still own those shares. Stocks don't earn interest. They go up in value when prices go up and they go down in value when prices go down. You recognize profit and loss when you buy and then sell or short and then cover. In between, there's nothing going on other than stock splits or reverse splits and dividend paid. Again even if my shares have been loan out, so what, it has no impact on my ability to trade them. If I want to sell them today or tomorrow or whenever at any time, my sell transaction will be executed at the time I place the order. The same goes with buy order.
Another thing, all of us are small potatoes, brokerage firms don't need to pay you any interest or bargain with you to loan out your shares.
grmnyak: Why the sorry? What do you know about my holdings? For my long term hold account, I bought 5,000 shares in 2002 at $20.50 and then it splitted to 10,000 shares and that would make my purchase price after the split to be $10.25 a share today. For my short term trading account, I bought 2,500 GRMN at $43.42 three days ago last Wednesday and today at this hour, it's trading at $42.80 and you feel sorry for me?????
Are you feeling sorry for me too that I have lots of other stocks in long and short term accounts both in long and short positions?
In my long term hold account which I don't check daily or weekly, I do look at it once every 6 months to make adjustment if necessary. Given you examples of my holdings, I have MSFT, INTC, ORCL shares since 1993 in my long term account, not to mention 600 shares GOOG at $150 a share in 2004 and 5,000 shares CRM at $15 a share in 2005, I even add something to this account as recent as of this May 2008, 5,000 shares of N. Majority of my long term holdings are in the red today, are you feeling sorry for me too?????
For my short term trading account, are you feeling sorry for me that I bought YHOO at $24 last december on buyout rumors and then it dropped to $18 a share in Feb, then MSFT made an offer and I sold at $29 in February, now I have a short position on YHOO at $26 for 3 weeks now and still holding? How about MSFT, I bought in at $27.48 2 weeks ago and sold at $29.00 last week for a quick profit and now I have 2,500 shares MSFT at $28.50 and it is trading at $27.85 right now? Are you feeling sorry for me? On and on, I have so many stocks that I play with in long and short positions.
I read message board for entertainment because I see you guys talking shit out of thin air. My only advice is if you can't take the heat, stay out of the kitchen, don't marry to your stock, if you are down, sometimes you have to cut your losses to preserve your capital, with capital, you can continue to play and have chances to win back those money lost and plus some, if you are up, take your profit and run, also never ever be greedy, sometimes you have to take little profits or break even too if you don't believe you can make money there, it's the little money that adds up and thru accumulation, they will become big money someday.
Don't feel sorry for me even if I do lose money now and then, it comes with the territory, I win some and I lose some, it's the name of the game. Like I said before, I have been doing this for over 20 years now and I am doing VERY VERY VERY WELL.
"I have 10,000 shares on my long term hold account and 2,500 shares in my short term trading account."
I'm sorry to hear that.
Is this the reason why you cried "the sky is falling" on GRMN???? Why didn't you cry it when it was $120?????
As I said before, I have my long term investments in my long term hold accounts and my trading holdings in both long and short in my short term trading accounts. If I am a genius like you and I have your wisdom, then I would be richer than Bill Gates, hell, why stop there? I will be the richest person on this planet earth and I even own the world. Since I am not a genius like you and I don't have your wisdom, I couldn't buy in at the company's historical low and I couldn't sell at the company's historical high. Oh my god, you have make me realize now that I have over $500 million dollars losses on my all long term holdings since the 1980s because I didn't sell them at all those companies' historical high whenever that may have been in the past and this market keeps going lower and lower. So genius, do us all a favor, post here all the stocks that you know for sure is going to fall 50% and give me stocks that you know for sure is going to go up 50% like the way you cried the sky is falling on GRMN today, so we can all make tons of money like you.
grmnyak: And another thing, from the tens of thousands of companies trading their stocks today, some companies will make history that today's price could be their companies' historical high, that happens every day just like people born every day and people die every day. So genius, tell me, which are those companies so I can short them.
georgebc53:: Do you even read the fine print??? Or you don't understand what you read???? You have to leave your money in the account for 12 months or they charge you for the product.
I copy and paste their agreement here:
The minimum funding requirement for a Garmin nüvi 660 is $50,000; the minimum funding for a Garmin nüvi 660 and a $200 Shell Gift Card is $100,000....... Please allow 8-10 weeks from minimum funding date to receive the product(s). TD AMERITRADE reserves the right to replace product(s) with one of equal or greater value. Account must remain open with minimum funding required for participation in the offer for 12 months, or TD AMERITRADE may charge the account for the cost of the product(s).
You. Government is the people, the taxpayers, so you foot the bill for every decisions the government made and everything the politicians promise you, the American public.
Also ignore both of what Obama's and McCain's promises of tax cut in their campaigne, you are not going to get any tax cut after the election under both, whoever wins the election. We are too broke to afford a tax cut. You will definitely see a tax increase under both Obama and McCain, the only difference is how much tax increase. History shows that democrats promises more social programs and they have always raised higher taxes than republicans.
Reditribution of wealth is when Obama said his plan is to provide a tax cut for 95% of Americans. He said if you make less than $250K a year, you will not see a single dime of your taxes go up. If you make $200K a year or less, your taxes will go down.
BUT he did not tell you and no one talk about that out of those 95% of Americans Obama talked about provide tax cut to, 40% of those people don't pay taxes. When these 40% file their tax return, they pay no taxes and they will get a refund check instead like a welfare check, something similar to that $4000 low income tax credit for people don't pay taxes. Now that's redistribution of wealth.
Stop lying. Your mommy gave you money to pay tuition. You did not pay tuition. You bought FRE instead. FRE went up and now it goes down. Your money go "bye, bye" and you have no education.
You are sad now that you are a moron. :(
Does anyone here knows what happened to the stock back then? Did the old DDi stock get wipe out 100%? Or the old common stockholders received 1% of the new common stock in the restructured company?
MSFT goes up too quick, so I am betting that it will drops down to the mid $26 range again. I will cover for a small profit around $27.00 - $27.50 range.
I haven't cover my short position.
It's now $27.55. Let's see how MSFT does the next day or two before I decide whether to cover.