Replies to post #173066 on Spongetech Delivery Systems Inc (fka SPNGQ)

[spongeboy]

Scottrade -others have posted the Scott anly lets you sell for 4 times the last trade price - however you can put in an order to sell say at .30 and when the ticket is confirmed you can change the sell to any number you want - or call it in.. I do not know if it is policy for all stocks or because we are on RegSHO --I use Etrade

go spng


Posted by: Spinosaurus Date: Tuesday, August 25, 2009 12:40:45 PM
In reply to: bimbo101 who wrote msg# 173047 Post # of 173071

bimbo: Questions for you or anyone: Are you telling me with scott if you buy at say .15, then your max. price on a GTC sell order is $.30 ? That's crazy.

With Schwab I can put GTC sell orders at any price I want, and I have, some at $35., and others scattered all over, at any price I want, never a restriction of any kind, and open for 60 days, then I put in another GTC order.

What's your commission charge with Scott? What is the attraction if you can't trade like you want to, and should be able to?

Are the restrictions company policy or what? If you phone in GTC sell orders can you place them at any price you want then or are still restricted to double?

I'm asking all these Qs because I have a friend who I got into SPNG who knows nothing about the market, and opened his acct. at scott. I want to be able to understand what is the deal with scott.

Thank you very much in advance for taking time to reply to me.

[Rebel8]

My local ST office told me that 4 times shareprice was the max for sell order. Nothing I could say would sway him. He said Nationwide company policy. However, I have talked with some who say: a threat of moving a "large account" has allowed them to put whatever price on a gtc. I only have 44k shares. Hope this helps.

[having fun]

I am with scottrade and I had to call in to set my sell order for $4.00. When I tried to do it online I got a message telling me that the price to sell order I wanted to place was to far away from the price I paid.