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philipt631

06/23/14 7:38 PM

#28649 RE: gettinreal #28646

Once you set a sell price it is locked however if you have an account with ETrade they do now allow pennies to be borrowed so there is no need to setup a sell price

gimmeshelter

06/24/14 1:04 AM

#28657 RE: gettinreal #28646

Some online trading platforms won't allow you to place a sell or buy order if it's too far from its current price. At .0033 we have to jump 300X to make it to a dollar. I think others won't let you set sell orders for penny stocks. Maybe Scottrade did that? Not sure. I've heard several theories to block mm manipulation, I'd like to see how things would look then, cuz I've also heard people say or write that mms were either a.) a necessary evil to keep the market running freely, or b.) need to be abolished or tightly reined in. There was a very well written, long, detailed and informed piece on the subject, favoring the former opinion, that was circulating on the message boards somewhere a few months back. Honestly, it made my head swim cuz I'm just not market-savvy enough to understand the inner workings of the market.