Rambus (RMBS) - Eagle or Penguin Message Board

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Technology Stocks : Rambus (RMBS) - Eagle or Penguin

RMBS 91.83

-10.2%

2:09 PM EST

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To: Matrix_Man who wrote (37110)	2/14/2000 8:10:00 PM
From: Mohamed Saba	Read Replies (2) of 93625

I need help with my story with Merrill Lynch: I have a large position in RMBS, and it is over 90% of my margin account with ML. ML has a house requirement of 30% on margin accounts. However, they have put a rigid upper limit dollar figure on how much I can be in debt in that account. They said that is because my account is concentrated! That rigid upper limit was OK with me until this morning. This morning I had an equity ratio of about 43%. I called ML and suggested a house limit of 40% on my account instead of the dollar limit. They had to go and talk to their compliance dept. Confident that the compliance dept would accept my proposal, I added to my position about 30% more RMBS shares. The compliance dept insisted on the dollar limit!!! I had to sell most of what I bought this morning. Bought at 95 sold at 117.5. A very nice profit, a trader would say. But I wanted to keep the shares for the long term. Did any of you ever had such an experience?? Any suggestions?? At the end of the day, my equity ratio is about 57%, but I can't buy any more!! Help. Thanks, Mohamed

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