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The Pocket Idiot's Guide™ To Direct Stock Investing by Lita Epstein, Douglas Gerlach

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Can’t Set Your Purchase Targets

You won’t be able to set a purchase price or even a purchase date for new shares of stock. Most DRIPs and DSPs have preset purchase and sell dates, so the company will buy and sell stocks for you based on these preset dates.
With this mind, don’t plan to watch stock prices and be able to act on those prices if you choose to invest through DRIPs and DSPs. You won’t be able to see a stock drop on Tuesday and wire cash to the DRIP or DSP administrator and order them to buy the stock in the same day. You also can’t be sure you’ll get the stock price you want. While you can do that with a limit order through a broker, there are no price controls with direct stock investing.
Each plan sets its own investment schedule ...

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