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Strategies & Market Trends : Moufassa's Lair
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To: Silver_Bullet who wrote (268)9/26/2001 3:10:31 PM
From: ALTERN8  Read Replies (2) of 13660
 
Agree. If you have less than 25K in a none-IRA account, you can't use margin either if your status is marked as daytrader (Catch 22). Although if you state that your intension is to hold longterm (overnight) you may be eligible to use your margin! The traders I talk to get confused often with all the new rules. It almost seems the new rules are designed to keep the rich richer and the poor without a hand to play.
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