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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Lao Ou who wrote (5166)	6/18/1999 6:06:00 PM
From: kcmike	Read Replies (1) \| Respond to of 16809

myz, WHen I say "cash" or "margin" account, they just group your equities into those 2 "types" of "accounts", within your account. Type-1 = cash, Type-2 = margin. First of all, you now (or soon) need to have 2,000 "cash buying power" in your account to purchase an IPO. If you have $1500, but no stocks in your margin account, that will not be enough (although it may be for a short time until they enforce the 2,000 rule). If you have $1,500 cash, and $1,000 worth of marginable securities, that will most likely give you a "cash buying power" of $2,000, and a "margin buying power" of $4,000. I hope this helps, Mike