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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: ridingycurve who wrote (83329)	4/20/2007 2:39:24 PM
From: upanddown	Read Replies (2) of 206326

A purchase on Monday settles at the close Thursday. If the security is sold in the intervening period, the funds can be redeployed on Friday. The sale date does not enter the equation, and the clock starts over on Friday. I think you are pretty close there but I will also check next week. The surprise is that sale date during the settlement period doesn't matter. I would have thought a Wed sale would only be available on Mon rather than Fri. I made a mistake in my previous post. My violation was a buy/sell/buy combo rather than sell/buy/sell. You may have misunderstood my other question. It really had nothing to do with unsettled funds. You buy a CD. Let's say the settlement date is Thurs. Is the cash still earning interest in your MMF thru Wed or is there a gap in the earnings stream as the transaction settles? Maybe where the funds are transferred out of the MMF on Mon and earn nothing on Tue/Wed? The reverse might also apply at maturity. The point is really moot for me now since I am virtually certain that the institutional MMF is superior to current rates for CDs or Treasuries. John

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