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Politics : Idea Of The Day

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To: IQBAL LATIF who started this subject	9/5/2000 10:33:53 AM
From: VinWood	Read Replies (2) of 50167

I did not realize "day trading" is a crime. I just received a letter from my on-line broker,Dreyfus, that I have been committing this crime. They state: Certain transactions that have taken place in your IRA account could be deemed as "day trading" (ie. buying and selling the same security within a single trading session.) Applicable regulations dictate that these types of transactions should be effected in a margin account. Presently, to maintain the tax deferred status of your IRA, Federal Regulations do not permit IRAs to be margin accounts. Has anyone else heard of this?

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