Posted 20 December 2006 - 06:31 PM
Hi Mark,
I'm unclear on this. I never have gone through a distribution process event for anything I owned in all my years. RYDEX was what I used to trade but timing for me with their windows to execute I did not like. However, what I do know is that I sold my QLD this AM for 84.33 when I pulled the trigger much later in the day than planned. I ent to bed with it at 89.30 in my Fidelity account. I saw it opened at 86 when I went to check to see if my limit sell order for 91 placed last night had executed. No it had not executed even with the gap up in the futures overnight as expected. Hmmmm - the unexpected situation put me in a state of confusion and I began the downward spiral. Checking opening price on other brokerage houses quote systems showed similar 85ish quotes. My thinking was something must be wrong with the quote or my system. After calls to system support and being placed on hold and never connecting - probably others with the same problem/question on hold too, I fired off the note to FF and received the response you see.
Bottom line, according to the quotes and prices received, m win turned into a several K loss. All I see in my account is what I sold less commission. Nothing else as yet. That's my story until I see the final settlement statement. I appreciate your concern and reply.
REGARDS,
Mike