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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00130-23.5%Nov 7 11:47 AM EST
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To: VinWood who wrote (43948)7/17/2000 9:49:42 AM
From: David E. Taylor  Read Replies (1) of 45548
 
VinWood:

I checked with my broker this morning before the opening. He told me that there is no problem in selling PALMV and using the cash to buy COMSV. Since both trades will not settle until after 7/27, the cash to settle the COMSV trade does not have to be in my account until then, at which point the cash from the PALMV sale will be available to cover it. He also told me that I could buy COMSV outright without any additional cash requirement or using margin until after 7/27, because the trade won't settle until then.

Also, the only COMS I need to retain is enough to cover the PALMV sale, but that's irrelevant since I intend to keep the COMSV portion of any sale until it gets up to around $20.

I haven't tried to do this yet, the story may well change when push comes to shove.

But you may be getting the runaround from Dreyfus.

David T.
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