Day Tradexchange Inc. (SYNJ)

[iLoveSnow]

I am the son of diamndron, and was the one who talked to Scottrade yesterday. I did not talk to a branch manager, just a worker there, and he did not specifically say the words "shorting". I'll let you read this and come to your own conclusions.

From Post #77411:

"I called my local ST branch today during my lunch hour and asked the gentleman who answered the phone if he could tell me why SYNJ.PK is under a buy restriction, but I'm able to sell shares. He said it had to do with their 3 day clearing, and he said they did not have enough shares to cover the buys they had and those that might come in. Therefore, the stock is restricted. He said as soon as some share are freed up and they settle their balance, the restriction would be lifted. He encouraged me to keep checking back.

I felt it was odd that he seemed rather nonchalant about the whole thing, as if this happens all the time. To my understanding, they should not be selling people more shares than they have to give away. Is that correct?
"