<<FWIW, I'm in a margin call. I made my bed. I know the risks. >>
Damn Tim, sorry to hear that. Are you joking or for real? What are your plans to get out of the call? Send in more cash, write some CC's.....sell some stock? Just curious. I got my first ever margin call in the spring. It really jolted me. My goal was to continue to use margin discreetly until the end of the year rally, then get off completely, and stay off. maybe in an UP market, use a small % for a short term trade using a tight stop, but thats it. Well, we aint rallied and I am watching that margin % grow daily as my stocks drop. this has proven to me that NO amount of margin is safe. Honestly, the amount of margin I was on after the spring debacle was very, very minimal. I figured no way in a million years could the markets drop enough to give me a call.....but as I sit and watch everything drop daily, I get a little more nervous. Still would need a bit more downside to trigger a call...currently I still have a little pad before I will get hit.....and if I do, I should be able to cover it without selling anything, whether I transfer some funds, write some cc's or whatever.
Anyway, I was really hoping for a strong end of year rally, so I could sell a little something and lose that margin once and for all...then concentrate on LTB&H and CC writing......right now, I'm just hanging on hoping things eventually work themselves out.
Good Luck
Keith |
