TheDirectory.com, Inc. (SEEK)

[Farrago]

Yes, set a limit order. A market order buys or sells at the current market price, therefore you can't set the price.

For length - different brokerages are different, some let you place a "good-til-complete" (GTC) order that stays active indefinitely. Some brokerages have GTC orders that only stay open for a set number of days (30, 60, etc.) Other orders are for the current market day only.

For price, yes...that is what a limit order does. It does not execute the order under that amount triggers the execution. www.investopedia.com or wikipedia or a lot of other places will explain that in full, but you're tracking on everything.

The reason there's reference to setting your sell order high right now is that legally shares that are "held" or "locked" against a pending order cannot be "borrowed" as short shares. Don't know that it actually does much since there's very little regulation between legal shorting and naking shorting and it's almost impossible to pinpoint shares that are borrowed during shorting, etc...but, if you were wondering where that came from, you can read up on shorting, naked shorting, and how in pennyland market makers can vastly manipulate stocks. So in theory, if you "lock" your shares with a sell order, it should help prevent in some small way the daily manipulation that goes on.