Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Big Dog who wrote (83238)	4/18/2007 8:13:09 PM
From: Wyätt Gwyön	of 206334

the strange thing was, back in the day (i mean 1999, when ten-baggers were a dime a dozen), there were none of these settled-funds restrictions. i think it's something the SEC got anal about a couple-three yrs ago. back in 99 i was constantly doing things like selling common stock and immediately buying options, then selling options and buying other options, several times a day. i could daytrade my IRAs just like margin accts (except of course i couldn't actually borrow money). as long as the trades all netted out to a cash surplus, there was no problem. on the other hand, back then it was very hard (though not impossible) to find a broker who would let you trade cash-covered puts in an IRA (even though it's no more "risky" than covered calls). now it seems they all let you sell cash-covered puts. trading fees have come down so much i think borkers rely increasingly on their MMFs as cash cows.

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