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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TheStockStalker who wrote (13337)7/8/2001 5:14:08 PM
From: Dan Duchardt  Read Replies (1) of 18137
 
PDT,

A. and B. exceptions you quoted will be eliminated under the new margin rules.

I'm not sure if I am reading you right, but A and B exceptions are a part of the new rules. They will be added to "correct" the current situation.

At present, if a long position is held overnight and sold, then replaced, it is treated as the long being held continuously and a short daytrade. Similarly a short held overnight and covered, then shorted again, is treated as a continuous short and a long daytrade. Under the new rules these will be treated as closed positions replaced by new positions not subject to the daytrading rules. They will of course affect the excess margin calculation done each day, which determines the daytrading buying power.

Dan
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