Common sense commentary on the covid 19, politics and the economy.
continued from previous post
I refreshed the screen again and saw 2oo shares short of one of the triple short etf's. I had not intention of making a short trade at the time and for the past few weeks this stock had become increasingly difficult to borrow. Immediately, I began to recount all of my trades and knew I had not placed a short order. These etf's can move $10.00 or more in the matter of minutes and at times seconds and they do not afford anyone the luxury of calling customer service to check on the issue. -especially with about an hour left in the trading day- I had no choice but to cover the stock as it shot up over $9.0 costing me what appeared to be close to $2,000. However, when I covered the dollar amounts of gain and loss did not compute properly and I had no idea where I stood. The chaos that ensued on the screen was ridiculous and ended up costing me about $3500. This number could have been even higher because of what I missed while trying to figure out this mess. There is no way to know in situations like this but the numbers don't lie. They have record of where I stood before their screw up and also where I ended the day. They have a chance to do the right thing.
your feedback and opinions welcome.
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your feedback and opinions welcome.