Day Tradexchange Inc. (SYNJ)

[iLoveSnow]

I received an official letter from ST regarding a FINRA complaint I had filed. The letter said:

"Dear ILoveSnow,

This letter is written in response to the above listed complaint that was forwarded to Scottrade by FINRA on September 29, 2009. The essence of your complaint appears to be that Scottrade has put Syndication, Inc. (SYNJ) on a list of securities that are under a "no buy restriction." You state that Scottrade's restriction is negatively affecting the price of the security in the market. After reviewing this issue, I am reporting the following.

We apologize for any inconvenience our decision to accept only sell orders for SYNJ has caused. Scottrade may proactively restrict trading of securities for a number of reasons, which may include operational circumstances. In this particular case, we chose not to offer this security for purchase due to clearing and settlement issues. This review and restriction should not be construed as a reflection on the merits of the security involved or the people effecting transactions in the security.

We hope this answers any questions you have, but should you have any further concerns, please feel free to contact your local Scottrade office."

So they chose to restrict SYNJ due to clearing and settlement issues. As many have suggested on here, shorting would be a "settlement issue." I plan to call my local ST branch to ask - When these clearing and settlement issues are complete, would SYNJ be opened back to buying? I'll try to keep all of you posted on their response.

-Snow