My thread on PNSN in the Stocks forum was deleted by a moderator because the price is under $5.00 and thus considered a penny stock. Before yesterday's collapse PNSN was a $5.00 stock. The obvious point that the moderator is missing is that PNSN Penson is a major clearing firm for both stock and futures trading and that a collapse in the stock price is of concern to any trader using Penson as a clearing firm. Are any posts about Penson stock collapsing allowed in any forum?
Your thread was removed because we don't permit discussion of penny stocks and PNSN is clearly a low (average) volume penny stock. If you would like to start a thread, say in the Trading Forum regarding the problems of Penson Worldwide Inc and the possible ramifications of a clearing house breakdown, that would be appropriate and of interest to traders. But your thread, in the Stock Forum, was focusing on the price and clearly sounded like you were discussing a stock trade which is very different than raising an alarm about a clearing house's potential problems.
Also funny that a stock like US silver which trades at .50 to .80 and has a market cap of about 150 million dollars+ and has positive earnings, will get deleted, but if you post a stock like NEN that has a $67 stock price and a paltry $8 million market cap, and has negative EPS of over $10 it wont get deleted based purely on price.
I wouldn't worry about Penson guys. They are "one of the biggest" clearing firms out there. "So many brokers" use them. They're simply "too big to fail," kind of like Lehman and Bear Stearns.
Your reading comprehension is poor. My PNSN post was focused on the collapse in price yesterday and today and not on the price level. The collapse in PNSN stock price leads directly to concern about traders using PNSN as clearing firm. I said nothing at all about trading PNSN stock and was not looking to violate any forum rules. Yes PNSN is a low average volume stock, but before yesterday's collapse PNSN was not a penny stock as it spent 3 months over your magic $5.00 level. I will be certain to limit any future new topics in the stocks forum to those about BRKA. Or is BRKA not allowed as it is too low (average) volume?
My PNSN thread gave all at ET a heads up about Penson and it was deleted. Now PNSN news is at the Wall Street Journal http://online.wsj.com/article/BT-CO-20110512-716214.html and the stock has been halted for a material disclosure.
I appreciate that you feel the sting of martyrdom, and if your thread had made it clear that you were only raising the issue of problems with the PNSN firm as opposed to accentuating the price (of a low-volume penny stock) in the Stock Forum then it may well have remained intact. BTW, there has been an ongoing discussion of PNSN in the Retail Firms forum here: Penson (PNSN) stock down on heavy volume
this $5 thing is highly arbitrary. Its ok to post about a Chinese fraud trading at $20 but not PNSN? I understand the rule is there for convenience. PS et is not the place where anyone comes to pump penny garbage. there are 100 other boards for that. actually, allowing that might be good for business, as there are many thousands of imbeciles just waiting for the next 10 bagger otbb
I have to agree. Using price alone to ban a thread is unfair moderation. Instead, look at the market cap and if its still trading on a real exchange. I agree with policy of not having threads with stocks that have .ob or .pk after them, or even if they are real penny stocks for example under $ 1/sh. Hopefully, Barron will make his thoughts known on this issue.