Traders angered after brokerage service stalls trading of two OTC stocks (PINK:ASFX), (OTC:BIEL)

If your biotech penny stock lost momentum in the last 24 hours, your trading platform may have something to do with it.

Investors following two increasingly popular biomed stocks are reacting angrily after Ameritrade's decision to halt trading of American Scientific Resources (OTC: ASFX.PK) and BioElectronics Corporation (OTC: BIEL.PK). Both stocks had been increasing in both volume and price per share in recent days, but got flagged by the widely used securities brokerage service which resulted in customers finding themselves unable to purchase shares.

Some day traders who use the platform, found themselves locked out after trading out of their positions while taking advantage of some of the wild swings that these penny stocks experience. They were reportedly allowed to trade out of the shares, but not allowed to buy back in. Prices for both stocks experienced pull back as investors pushed the panic button amid the confusion.

"It has been known to happen," said one trader who took to posting his frustrations on a popular message board. The day trader was also among the hundreds who flooded the phone lines at Ameritrade on Tuesday afternoon. "If some of these on-line trading companies choose, they can halt trading on a stock for whatever reason. I don't like that they can take away my ability to choose what stocks I feel like trading."

Some customers were told by Ameritrade customer service representatives that the company is reconsidering their policy toward halting some suddenly surging OTC and Pink Sheet listed stocks.

At least where BioElectronics Corporation is concerned, investors are hoping their ability to trade shares resumes sooner rather than later since the company is waiting for some decisions the FDA. At least one analyst has placed a target price on BIEL shares of between $0.30 and $0.50, should the pending FDA clearances be granted. A full special report on the news development is available at BioMedReports.Com: http://biomedreports.com/articles/most-popular/6943-ameritrade-halts-trading-on-two-popular-biotech-otc-stocks.html

Biotech investors interested in seeing the complete database of clinical trials and upcoming FDA decisions can access that information here:

http://biomedreports.com/fda-calendar/fda-calendar.html

Disclosure: BiomedReports is not paid, compensated or in any way incentivized to report news and developments about publicly traded companies.

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