I tried to post a high sell order as well, but TD limits my ask price to 5.80. At 5.81 or higher I see the following message.
"Your limit price is too far off the current market price. Please re-enter or contact your local TD Waterhouse office for assistance.[60101"
This reaffirms my committent to dump TD Waterhouse as soon as I get the chance. This will take awhile as selling my NOT shares at this time will mean a big capital gains hit on the 2007 tax return. I prefer to wait until 2008 to take this hit and delay the pain as much as possible. That and I can watch this appreciate during that time.
What is funny is that at $5.81, this is about 60% more than the current share price.
I have had high sell orders in at 1.20 on stocks trading at .20 cents (600%).
This leads me to believe that TD likely does a lot of shorting and do not want to be forced to cover at a really high price. With the potential NOT has, I should be able to set a $20 - $40 share price without issue given that we have increased 900% since August.
M1.