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Technology Stocks : American Power Conversion
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To: Joseph Francis Torti who wrote (1670)7/27/1997 1:50:00 PM
From: shane forbes   of 2574
 
Joe my experiences with margin at Waterhouse have been different. I've had no problem "re-using" the margin funds on the same day several times! Here's an example just the other day.

SOLD $x DSPC.
BOUGHT $1.5x LSI.
SOLD $0.6x CS.
Bought $x XLNX.

In other words margin funds borrowed NET 0.9x. Is this what you meant by re-using margin funds?)

I have heard though that if you are close to your margin limit there may be a slowdown in the time it takes to approve trades. I've never had a poblem with margin trades but maybe that's because even though I'm on margin I have not heavily margined % wise. I'm also not a day-trader.

Also I have been o.k.'d for level 2 option trading with no option trading experience whatever.

Having said all of this I agree with your basic premise though. My feeling is that Waterhouse's WebBroker and structure are not exactly in tune with people who trade heavily.

(Also if you are a heavy day trader I've been hearing some very good things about DATEK. No options and no margin though I think. )
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