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

To: Dave Chan who wrote (6112)	7/2/1999 7:05:00 PM
From: eDollar.com	Respond to of 16809

May be MAnny can clear up..... MANNY we need you I dont think so. If u take a margin balance loan, then WIT rejects u from IPOs, according to manny. i am not sure what he meant and I did not ask him to elaborate. Moving a postion to Margin bucket should be fine. I have just moved some to margin, in no flipped accounts. But I did not buy anything on margin there On my flipped account I bought EGRP, ATHM, YHOO and GNET on margin loan to play the earnings movement. Dont want to buy anything on Margin in nonflipped account. I dont want to take a chance. Logically if u have CASH/OPTIOn buy power u should be fine. It works with eTrade. I dont want to experiment with WIT.

To: Dave Chan who wrote (6112)	7/2/1999 8:42:00 PM
From: Manny	Read Replies (1) \| Respond to of 16809

If you paid in cash for some stocks (IPO or otherwise) and these stocks are moved into margin account...its not a problem. But if you borrowed money from Wit Capital to buy some stocks then you carry a margin balance and you will not be considered for any hot IPOs. I trade on margin in one of my account and I havent received any IPOs except WITC, BNBN and SRCH (Dont ask me why I confirmed SRCH! I think I was disappointed not to get Juniper!) Hope that answers your question...