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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!!
DGIV 0.00Dec 5 4:00 PM EST
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To: Judith who wrote (2142)5/2/1998 8:25:00 PM
From: Allan B.  Read Replies (2) of 50264
 
I need some help from more experienced hands.I have 900 shares of dgiv with DLJ direct. What I have been doing is working extra hours nights and weekends and using that money to place a market order before I leave for work in the morning.

I placed an order to buy shares on Friday before I left for work and when I returned home Friday night I had an email from DLJ saying that the trade was rejected because I didn't have the money in my account to cover the trade. Their new policy starting May 1 is that any trade involving stock under 3$ or a BB stock must have the money in the account to cover the purchase before the trade is executed.

Is this normal? Do all brokerages require this? If I mail the money in, even overnight service, I don't think the money would be in my account until Wednesday or Thursday.

Is it possible to open a new account with another online broker and be trading in one day? We're not talking large amounts of money or stock. I usually can only buy 100 shares at a time but that represents an increase of over ten percent over what I already own. I have always used DLJ and am unfamiliar with anyone else; and I am fearful of the price of the stock running away from me before I can set up somewhere else.

Thanks
Allan B.
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