Replies to post #91665 on Elite Pharmaceuticals Inc (ELTP)

[HankVerde]

I've been with Scottrade for more years than I can remember. However, the only downside to Scottrade is that they charge outrageous commissions for penny stocks (anything under $1.00). I was trying to buy 50,000 shares of ELTP for my wife's IRA and the estimated commissions were almost $100!

I am moving our accounts to Schwab. They charge $8.95 for up to 1,000,000 shares of a penny stock AND you can set stops on penny stocks, something you can't do with most other brokerage houses (that I know of).

I talked to E-Trade and they won't let you transfer in penny stocks.

I had an issue with TDAmeritrade trying to transfer my IRA to them about 4 years ago. They said they couldn't determine the purchase dates of another penny stock I had. It's an IRA so who cares? Anyway, I'm not transferring my IRA account to them.

I don't know about Fidelity. I had an issue with them many years ago and still hold a grudge, so I didn't even ask them any questions.

My account was up well into the 6-figures today thanks to ELTP. I know some of you have 5 and 6 times the number of shares I have, so I assume you were up almost $1m today. Congratulations! I'm envious, but not jealous. You were true believers when I was not sure and you deserve whatever you made. Bless you for your confidence.

Bottom line, don't worry, be happy!