Just got off the phone with my brokerage...this might be interesting

...We Welcome You To The Resverlogix HUB withIn The AGORACOM COMMUNITY!

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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Just got off the phone with my brokerage...this might be interesting

posted on Apr 22, 2019 09:47AM

I don't normally divulge this, but meh, what the heck. One of my accounts is with BMOinvestorline.

I got hit with a margin call, nothing huge and I just covered it. But it led to an interesting conversation. My buying power was quite high, and I had dipped into a small bit....and then in plummetted. The reason? It seems that Resverlogix were a marginable security, but then last week BMO's credit department deemed them to no longer be marginable.

So I got a bit of an education. It seems in broad strokes that BMO has a $2.00 threshold for a security to be marginable....and it has to have traded over $2 for a set period of time. Now RVX has not been below $2 since June of 2018, almost a year now.

I wanted to know why RVX used to be marginable and now all of a sudden its not. The person I spoke to couldn't tell me, but I've been assured I'll be getting a call back before the market closes.....I've covered the margin call, so I'm all good there. But I find it curious that a major house like BMO could have people using margin to buy RVX last week or before that, but if they have now they're all of a sudden faced with a margin call.

I put it straight to the guy I was talking to....wondering if the reason had anything to do with BMO finding itself short on RVX and so they decide to remove it from their marginable list in hopes of squeezing some longs.

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