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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who started this subject	9/28/2000 11:59:15 AM
From: StockHawk	Read Replies (2) of 65232

Trade Settlement Issue - I have a cash account at Dreyfus (an IRA) and yesterday I sold some stock. Today I placed an order to buy something and it was rejected. When I called Dreyfus I was told that they have been instructed to enforce a rule that prohibits the use of funds until the settlement date, which is three days after a trade. I'm wondering if anyone else has encountered this situation at other brokers. (And what does this mean for day traders?) StockHawk

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