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Non-Tech : MB TRADING
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To: tom pope who wrote (4506)4/14/1999 2:21:00 AM
From: Colin Cody  Read Replies (1) of 7382
 
tom I asked my IRA people your question. They said it is impossible to do, and I insisted that it can be done... I've done it myself many times. They said "you must mean in a non-IRA account". And in my case is was.

They claim in an IRA there are more safeguards. Anyway, upon my insistence I asked if the account would be disqualified if in fact somehow I was "short" a position at the end of the day. They said "no, contact us immediately and we'd have to REVERSE THE TRADE" i.e. they eat it, because they screwed up.

I didn't get into what if there was a large gain or loss between the trade and the reversal.

Colin

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