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Re: LONGVMHIF post# 5721

Friday, 04/29/2011 11:34:45 AM

Friday, April 29, 2011 11:34:45 AM

Post# of 11962
I did as you suggested and called my brokerage. Turns out that to protect investors some brokerages do not allow automatic purchase of penny stocks. You can still sell electronically but you just can't buy without their review. It has to do with people getting burnt when they put in an order for the asking price. Apparently the MM can fill that at any price they want, even many times higher than the last ASK. So lesson is to always have a ‘Limit’ on your order.

(Still wish that the OTC would post news about the Cease Trade Order being lifted. BMSPF OTC Market News )