Subject: Not allowing me to sell my stock.
A few days ago on 10/31/08 I bought ( MGM ) when the stock started to tumble I tried to sell it, and tradeking sight would not let me. It returned a message saying:( that I was trying to sell a stock that not yet settled ). This cost me, I lost over a dollar a share so I called and I was told that I had to have a margin account in order to buy and sell up to 3 stocks in a 5 day period of time. so I opened a margin account and waited. After about 2.5 days I got a letter saying my margin account was now open, So tried to sell ( MGM ) and there sight let me. The next day I bought (s) and (GNBT). I held it for 2 days and then tried to sell it. Again there site would not let me. I got a message that said the account was restricted. So I called trade king and ask why. First I was told I bought more shares of (MGM) then I had money so the account was restricted for 90 days. I told trade king I did not buy to many shares that after I bought my shares that I had money left over. Then I was told that I sold MGM to soon. Well after I opened a margin account 2.5 days latter, I told tradeking there site let me sell (MGM) so I assumed that everything was alright because the only thing that will over ride there site, is if a person calls in and tell them to sell it. Which I did not. Trade king told me that they sent a letter saying that I was restricted, which they did not. ( I told tradeking check there sent mail and you will see that they did not send me a letter ) and even if I was restricted why did trade king allow me to buy more stock after I was restricted? And if I was restricted I told tradeking they need to reimburse me for the difference. The money I lost on the stock after I was restricted since I was not allowed to sell it. It seem to me a person can buy stock at Tradeking but they can not sell it. So I got fed up and called and asked trade king to sell all my stock, (S) (SIRI) and (GNBT) I had to argue with them for over 30 min. before you sold my stocks for me and it was falling in price.