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Pastimes : ETRADE Sucks!
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To: Alec Epting who wrote (841)11/10/1997 6:52:00 PM
From: Janice Shell  Read Replies (1) of 3262
 
If you don't send in the money you are liable. They sell the stock immediately.

And if the stock tanks ten points between the time you make the trade and the time you send in your money? Your brokerage cheerfully eats the difference?

My guess is that if you've ever thought you did this, what you were really doing was buying on margin. The bottom line: if you don't have the buy power, you don't buy.
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