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Non-Tech : Invest / LTD

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To: SJS who wrote (11561)	1/20/2000 9:32:00 PM
From: Thean	Read Replies (2) of 14427

Steve, you said you did a CNXT "short" trade in your IRA account. This is not allowed per SEC rule. You cannot sell first and then buy back later on the same day in IRA accounts. On the regular, non-IRA account, there is a daytrading SEC rule which says multiple trades on the same security within a single day cannot exceed the daytrading buying power (2X normal buying power). Some brokers are pretty laxed about this rule but not Waterhouse. Waterhouse is quite strict but they are still one of the best value out there. How much do you pay per trade? I pay $12 at Waterhouse and $10 at Datek. Both are great at giving me fills in between spreads.

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