Replies to post #25608 on Saean Group Inc. (SEAN)

[akamaii]

With 4 million shares he did the worse thing,then he announced to everyone he's trying to unwind 4 million shares...probably worse as he's selling the stock goes down even more bc people panic with the size order mm back off etc ....thank heaven I use pert these guys are fair.....either way if he's selling in a day he was going to tank the stock . It's maybe better he did at eod

[drwwicks]

Do they only take limit orders. Not sure about ameritrade since I only do limit orders.

I hate surprises.

[absintheminded90210]

you can get around that by setting your limit sell order below the current bid. so the joker with the 4 million could have set the limit at .01 and it would have hit every bid higher than .0099 till it sold all 4 million. make sense?

i think schawb even has a warning on the confirmation screen, something like "the limit price you set is below the current ask, this will be entered as a market order" even though they dont allow "market" orders on OTC stocks.

[bigtimetrader]

It varies by the stock, I can market sell this stock but not buy.

[hellothere2]

I never had any penny trading problems at etrade!