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Non-Tech : Discover/Lombard Brokerage.
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To: Christopher who wrote (125)8/5/1999 10:45:00 PM
From: Madharry  Read Replies (1) of 180
 
I have been with them for several months without complaint until today when I received a letter that my account would be restricted for three months because of some reg-t violation. I called to get an explanation and was told that I could not daytrade out of an ira account. I told them that I had the cash available in my account to make the purchase. it went up over 25% and I figured I ought to take the profit the same day. They reiterated that this was day-trading and that once I purchased a stock I was not supposed to sell it the same day in an IRA account.

This seem ridiculous to me and now they are telling me that I may not be able trade on the internet for the next three months. I guess I may be moving elsewhere soon. Perhaps Brown.
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