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Technology Stocks : JDS Uniphase (JDSU)
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To: mikel who wrote (6464)2/18/2000 4:24:00 PM
From: SJS  Read Replies (1) of 24042
 
That's tightening is starting to filter through all the brokerage houses.

Fidelity, for example, has raised requirements on stocks like JDSU or SCMR, and PHCM, and PUMA to 80%, even though the Federal requirements are 30%. That's their perogative, based on the risk they assess the stocks to hold. That means that holding these stocks in my margin account, I only spin off very little additional buying power, if I were to use margin.

I am sure that AG doesn't have to do a thing with a mandate to raise the Fed margin rates. All these brokerage firms have received their tacit "instructions" to raise the bar. More and more cash will be needed to buy stocks as implemented by the financial instutitions fear, not by the Fed.

No one will admit that they've got these directives or vectors, but they have. The last thing we need is to have a stampede like 1929, or 1987. It would much more devastating now.

Steve
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