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

To: ChopChop99 who wrote (6170)	7/3/1999 1:33:00 PM
From: eDollar.com	Read Replies (1) \| Respond to of 16809

>>After that, once they're moved to margin, you can use them as collateral to purchase other marginable stocks, but not IPO shares, since IPO shares are not marginable until they're 30 days old...<< Chop this is wrong. U can use CASH equivalent of margin buying power to by IPOs legally. eTrade lets u do it. Logically this should be fine. i tried to argue this with a wit representative, but he deed not seem to understand very much the law regarding margin works. You can even buy options in Cash margin equivalent. All brokers allow it.