Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: jlib who wrote (8700)	2/3/1999 2:10:00 PM
From: Mama Bear	Read Replies (2) of 122087

" I was just amazed they let me get away with it." Jimmy, if you close the position today you will get a Reg T call if you did not have enough money to cover the initial margin requirement in your account. You have to use fresh funds to cover a Reg T call, you can't close other positions to do it. If you don't cover a Reg T with fresh funds your account could be restricted, which would mean a human having to make sure you had available bp to make each trade. If I may offer some advice, I'd call and explain the situation to them. Note all this only applies if the trade is a daytrade, the rules are completely different if you hold it overnight. At Waterhouse I could hold the position overnight and close it, and that would be considered delivery of the funds to cover the call generated. If you actually had the money in your account and it's just a book keeping error you're in compliance. I'd still call them and make sure they have it straight. Barb

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