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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Wayners who wrote (2078)2/13/2000 3:21:00 PM
From: Dan Duchardt  Read Replies (2) of 2120
 
Wayne,

I have a cash account (IRA) with a conservative broker who absolutely will not allow me to sell a stock the day I buy it. I have a real life example of a stock I bought in December that was up 15% in an hour. I could not sell it. By the end of the day, it was up slightly. The next day or two I could have taken a small profit, but did not. A few weeks later I was down 30%. I finally sold after 6 weeks for a profit of less than half what I could have had in the first hour, and felt lucky to get out without a loss. This kind of restriction is ridiculous.

Dan
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