Sell orders at $0.9999

Posted by turnip 
Sell orders at $0.9999
November 29, 2011 03:41PM
I see many sell orders with a price of $0.9999. Wouldn't buying at that price lead to a guaranteed loss once the $0.0035 trade fee is added? Is there any reason to buy a stock at $0.9999 or is it just a trap set for the unwary?
Re: Sell orders at $0.9999
November 29, 2011 09:41PM
It's a hack to get the stock on the Active Orders part of your My Portfolio page, which has the advantage of a Today's Change column that the rest of the page doesn't have.
Re: Sell orders at $0.9999
November 30, 2011 02:04PM
Ah, thanks eeyore, I wouldn't have thought of that myself.
Re: Sell orders at $0.9999
November 30, 2011 11:03PM
heavy traders won't have to worry about the 0.0035 transaction fee if they've got through their $5 per month.... but there's no real attraction in buying at 0.9999 or selling at 0.0001 unless you already know the outcome and know the stock will close soon.

I think most of the buy at 0.0001 and sell at 0.9999 orders are by ipredict's bots anyway.
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