UBS won't let me sell!

Posts: 30 · Vonage Forum Junior Joined: May 21, 2006 Posts: 30

"weakling" individual investors DO NOT move the markets
Institutionals move the markets

I'm in for 200 shares, thank God I didn't get full allocation of 500.

I was flipping IPOs for a living in '99-2000 getting 4-5 IPOs every month for a year, never had one open below the IPO price. All my profitable IPO flips opened above, way above, and never waivered for the req'd 30 day holding period.

Putting positive or negative spins on this stock in discussion forums does not move the markets, because you guys aren't institutionals. So let's speak honestly about this stock. This stock is a dog.

As we approach the 4:00pm close, and if it is still weak, there will be massive selling.
If it closes on weakness today, it will likely open gap-down tomorrow.
Long-term may be another story.

Posts: 21 · Vonage Forum Associate Joined: May 21, 2006 Posts: 21

testing 16

Posts: 21 · Vonage Forum Associate Joined: May 23, 2006 Posts: 21

bigtuna,
you're dead on.
UBS is finally accepting sell orders for those who want to limit their losses.

Posts: 30 · Vonage Forum Junior Joined: May 21, 2006 Posts: 30

I'm dumping my lousy 200 shares today before the close, if this dog doesn't turn and head upwards with positive momentum before the close. I do not want to be in this stock tomorrow if it closes on weakness today.

The worst thing to do is "believing" that a 3-legged dog is really a race horse in disguise, and you just have to be patient.

That naive thinking will see $12/share, then $10, then $5, $4, $3... hello pink sheets (penny stocks).

What happens as we approach the close today is very important as to whether I should be in this stock tomorrow.

Posts: 18 · Vonage Forum Associate Joined: May 15, 2006 Posts: 18

I echo everything that bigtuna has written. Read his posts and take heed.

This stock is in trouble! Every IPO that has opened week this year is currently underwater.

This was supposed to be a HOT IPO. Instead we are the ones getting burned.

jw

Posts: 57 · Full Forum Member Joined: Sep 03, 2005 Posts: 57

Redblur, I don’t mean to pick on you. But you are really something. Still pumping and telling people to be patient. Judging your non-stop comparison to Burger King and worse yet, “Red Hat”, with due respect, I can’t help but think you know nothing about investing. Let me tell you, if you choose to hold, you will sure lose your house you said you were drawing credit on to buy this stock. A little education, do you know why brokers can sell below the IPO price? Answer, because they did not purchase shares at IPO price! They get load of free shares for compensation of their work and they are perfectly willing to unload them at ANY price to convert them into cash payment.

Posts: 18 · Vonage Forum Associate Joined: May 15, 2006 Posts: 18

libbyloo,

I offer you a Mea Culpa.

I believe you were one who said that this IPO would be a dog. I thought different.

I thought that institutions would support this stock and even pump it up at the open. If institutions will not support this stock, it is headed south.

The only hope this stock has is a possible buyout in the future. I'm not waiting around to find out.

jw

Posts: 21 · Vonage Forum Associate Joined: May 21, 2006 Posts: 21

not good, broke 15

Posts: 10 · Vonage Forum Associate Joined: Mar 08, 2005 Posts: 10

When I tried to send a stop order, UBS responded with:

Your order cannot be placed at this time. Quote is currently unavailable. ( 109 )
SELL STOP HIGHER THAN MARKET ( 666 )

This was one hour into trading.

Calling resulted in over 6 minutes on hold before reaching a broker.

I'm more unhappy with UBS than Vonage. The Vonage risk I understood. UBS on the other hand, was supposed to deliver a functioning trading account. . .

Posts: 30 · Vonage Forum Junior Joined: May 21, 2006 Posts: 30

bigtuna wrote:

there will be massive selling.
If it closes on weakness today, it will likely open gap-down tomorrow.
Long-term may be another story.

See. I told you so.

That said, after a gap-down and lower trading in the first hour of trading, it's possible there will be a reversal. The first hour of trading of the day is usually when the scared money from the close of the previous day dumps it's shares. After the scared money dumps, big money comes in to scoop up shares at bargain prices.

Watch the volume. If volume doesn't start increasing dramatically, then big money isn't stepping in and it will probably just drift lower and lower. Drifting aimlessly lower is the killer because there's no bottom when it's drifting.