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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (13143)6/12/2001 4:36:28 PM
From: TraderAlan  Read Replies (2) of 18137
 
Wondering if anyone is seeing any evidence yet of the PDT regulations being enforced by the broker-dealers? I recall a note someone posted recently from Datek that seems to address it (a very bizarre "three strikes and you're out" policy). Anything else?

I did some surfing last weekend of the direct access companies listed in the Yahoo directory. Dozens of them are still showing 5K and 10K minimums to open new accounts even though their clients will all be recognized as PDTs in September. Thought that was kind of odd and underhanded. Also see that some big discount brokers are running summer promotions where you can get freebies by opening a 2K account and trading it like hell for a few months. Once again, kind of odd and underhanded. Get them in the door, wait a few months and go WHOOPS we forgot to tell you that you can't trade this way any more.

Alan
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