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Interactive Brokers Sincerely Apologizes, But Hikes Margins On MOMO Stocks Once More
With a surprisingly apologetic note, IB just hiked margins on yet more of the "cult" momentum stocks that have signified the dot-com 2.0 bubble. Almost as if they know they know that their actions are the final straw on the camel's back:
We sincerely apologize for exercising our discretion to modify requirements with short notice, but believe this action to be warranted given the current market conditions.
Today's 30% hike follows Monday's 100% rise in margins and affects stocks such as TSLA (-16.5% from highs), QIHU, and SFUN.
Via Interactive Brokers,
Effective immediately, IB will be increasing the maintenance margin requirement on the securities listed below to the greater of 30% or 20% above the current risk-based requirement (in the case of positions held in a Portfolio Margin account).
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We sincerly apologize for fucking all of you leveraged clients, but we are going to do it anyway. Good luck and thank you for your business. we look forward to fucking you again.
The Careless Whisper Breaking News Update & Threadjacking
Airbnb dot com Defies Subpoena To Turn Over List Of NY City Users For Possible Hotel Taxation For Renting A Bedroom; Vows To Fight Ny Tax Mafia
http://www.theguardian.com/world/2013/oct/08/airbnb-new-york-users-data
Retail traders are doomed anyway. The only way to guarantee consistently good investment returns is to give your money to a professional investor. Retail investors lack the necessary accreditation to outsmart the professionals at their own game. Managing risk and generating alpha requires the skill and experience of a dedicated professional, and I’m sorry to break it to doomer pyjama-traders, but you simply do not and will never fall into this category.
http://accredited-times.com/2013/10/08/why-unions-are-the-champions-of-american-freedom/
like you should know, Mr. High Delta Puts....
Fuck off MDB...and have your Mom change your diaper..you stink to high heaven
Mate, it's sarcasm. I think.
It's funny that after all these years people don't get that fact. They love the Onion, but they don't appreciate the satire of MDB.
Those who are just wiping the cobwebs from their Dancing With The Stars viewing eyes need perhaps a bit more time to catch on to MDB?
Maybe his FU to MDB was also sarcasm. I wonder how many TSLA shareholders/gamblers are getting margin calls by IB.
If it truly is someone making this all up, then talk about time wasting - and therefore they deserve a shellacking.
If not....then a shellacking they get....
either way....to shill - satirically - for what this cunt MDB does - is fucked up.
MDB- more fries, NOW! Drive up is waiting on you!
I gave you a red pill just because you're a douche.
Bugger off.
not only Qihu, several Chinese Bankruptcy-ing Solar stock tripled in last month
Solar company don't like oil / gas / nuclear / any other kind of energy company, solar company is only a factory to produce panels, you can build such factory at any place and any size......
We sincerly apologize for fucking all of you leveraged clients, but we are going to do it anyway. Good luck and thank you for your business. we look forward to fucking you again.
Because after all.....you have no choice. Even if you go elsewhere.....they're going to fuck you in the ass too.
Rehypothecation fraud guys????? Still running the business? xd:)
Is bad news bad news this time aorund?
Sol right
Tesla leveraged gamblers got scorched like that Dude's Tesla in WA state.
engali rocks¡
Two Words
Bear Trap
....with a side of Muff Wipe to the face
Especially the condition that Goldman paid us triple commissions to get short up the wazoo before we did it.
FLASHBACK TO JULY: Goldman lowers TSLA price target to 84; stock drops to 109. Goldman says Sell*.
* SELL means Buy.
http://www.cnbc.com/id/100890550
CME soon to follow with some equity index margin raises.
"dot-com 2.0 bubble"
YUP!
This means they see some big losers up ahead, and if you're going to bet on Double Six's at 30 to 1 odds you have to put your chips on the green cloth.
WTF! Why don't you think to raise the requirement when the stocks have gone vertically parabolic!! No, you want to take away the punchbowl after the partygoers are lying unconcious in their own vomit at 4 in the morning!
Fuck you and your stupid apologies. Stupid motherfuckers!
So is the sign that the Banksters finally have all of their shorts and puts positioned for the crash?
It has been done before. That, and they are scaring all this retail money that is supposedly waiting to jump into this shit.
Stock crash...dollar strength...buy emeriging market assets on the cheap. What the fuck.
"So is the sign that the Banksters finally have all of their shorts and puts positioned for the crash?"
DING DING DING DING DING !!!!!!! WE HAVE A WINNER !!!!!!
Time to commence rapings of the retail sheeple again! Hey, gotta generate some flow somehow these days!
Uh, with all due respect, SDO... are you high? How is raising maintenance margin "rapings"? IB's saying that they believe the stocks in question are becoming a risky proposition, and and that they won't lend people quite as much in order to BTFATH as they did previously. That's pretty much in line with the ZH near-consensus that the whole thing's vastly over-heated and due for a fall.
As for "retail"... Yeah, it's retail, but portfolio margin at IB means a $110K+ trading account. Not exactly Goldman Sachs, but not nickels and dimes either.
Finally, raising the maintenance margin is going to reduce flow, not generate it.
(And just for the record, anyone who says "sheeple" is making the choice to sound like a complete moron, and deserves a -1 for that alone.)
You have to love when they move the goal posts in the middle of the game. TIME FOR A COMPLETE RESET !!!
Calvinball! And retail schlubs think they've actually got them outsmarted and front-ran....sheesh.
Hey isn't it the big funds that are crammed full of this MOMO garbage for years? Good luck here, mom and pop retirees...you're gonna need it.
fear not! this just in from the WSJ:
Easy-Money Advocate YellenPushes Fed's Boundaries
Janet Yellen, who will be nominated to be the next Fed chief, is known for a willingness to push boundaries to goose a listless economy, reflecting an easy-money leaning.
..because we haven't been goosed enough already o_O
'Listless economy'? But I thought the economy was deemed 'recovered' and doing just fine!
It is deemed recovered when it suits the need of Wall St and CNBS. If they need more QE, the economy is slipping.
So where does Interactive Brokers get their margin money from? From a big bank in exchange for rehypothecating customers' shares?
They advertise themselves as the only retail broker who does not hypothecate customers accounts. Maybe they do the account of traders on margin. And their money is dispersed among about five TBTF banks. The SEC recently went after them for some nit violation. If your trading though, they are supposed to be the best
Please ZH, a complete list would be welcome, this seems to be very important
This market will crash. You can count on it. But its not going to happen while the politicians are at an impasse on the budget. Then it would be seen as their fault. And that is not going to happen.
I haven't looked at Priceline for awhile...$982 a share. WTF.
Oh come on man. thats a bargain! down from $1075. and you know how much disposable money people have lying around for trips to see the Pyramids and other tourist friendly places all over the globe. and you know how profitable the travel industry is. you're just a pessimist!