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

To: Praetor who wrote (5168)	6/18/1999 7:00:00 PM
From: kcmike	Respond to of 16809

Praetor, Actually, yes, you CAN buy IPO's on margin. But not in a cash account, since you have no margin. And not if you don't have enough "cash buying power" with the securities you already hold. In a margin account, as long as you have $4,000 worth of "marginable" securities, you will have the necessary $2,000 "cash buying power". They have also said that they take peoples "past experience" into account, which is why you were allocated shares with only $300 cash. Of course, it would be nice if they were a little more consistent in their language, wouldn't it? Anybody else have a different interpretation? Mike