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Pastimes : ETRADE Sucks!
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To: Alec Epting who wrote (841)11/10/1997 6:33:00 PM
From: BenYeung  Read Replies (1) of 3262
 
My parents was using PCFN (now DLJ Direct) two or three years ago, and my dad put in an order for 1000 shares of MSFT and 1000 shares of INTC when he was overseas. Not seeing any confirmation, he asked my mom to enter the order in US. Then nothing happened, so my father entered an order again. They end up with 3000 shares of each stock, and they had to wire money from their bank accounts to the brokerage house. They made a lucky mistake because these two stocks shot up like a rocket in the next 3 years.

The point of the story is, you can buy stock and pay later before the settlement date depending on the brokerage house's rules.
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