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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (27165)	4/2/1998 8:49:00 PM
From: Skeeter Bug	Read Replies (3) of 132070

mike, here is the scheme. let's say i get a stock that is bid at $3.50 and ask $5.50. i use my reg to put a limit sell short in at $5 7/16. the ask drops to $5 7/16. immediately i hit the ask from my ira. then i put an bid to buy at $3 9/16. immediately i hit the bid by selling from my ira. i lose the cash in my ira and gain it in my reg account. i do lose the commission friction but that is acceptable. what is wrong with this scenario, if anything?

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