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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (2049)	2/11/2000 4:42:00 PM
From: Dominick	Read Replies (1) \| Respond to of 2120

Dan: Settlement of securities can done the regular way, (T+3)or cash settlement which means the stock must be available from the seller the same day and cash must be available in the buyers account the same day. Since most of the stocks are not in certificates and are readily available, I don't see what the hell their problem is. Regards, Dominick

To: Dan Duchardt who wrote (2049)	2/11/2000 9:27:00 PM
From: Adelantado	Respond to of 2120

"...Perhaps you would like to post the picks that would allow me to quickly increase my portfolio by 1250%, with or without margin...." Any 10 bager would do it. I'll agree, there aren't many day traders that can do a 10 bager; but then, that's one of the limits of day trading...there are no 10 bagers because you got to get out before any real accumulation can occur. Joe

To: Dan Duchardt who wrote (2049)	2/12/2000 10:41:00 AM
From: Wayners	Read Replies (2) \| Respond to of 2120

There is a very real possibility that in a cash account daytrading is "illegal" I would like to know more about this. Is this based on T+3 settlement and that margin is required in order to get spend the proceeds of a transaction from a daytrade? I see you're point thinking about it from that standpoint. I think that you would be able to buy and sell in the same day still---but you couldn't do another day trade using that money for several days. I currently don't like the margin requirements that go with overnite holds. Doesn't make sense that I can receive proceeds from a daytrade intraday and use that money again to buy something else (requires borrowing because the actual cash doesn't arrive for 3 days), but if I hold a stock overnite and sell it--then I cannot use those proceeds until the next day. This difference occurs simply because nobody is doing intraday equity/margin calculations. With today's technology, these calculations could and should be carried out intraday and instantaneously and thus the overnite margin rules could be eliminated. It also makes no sense to even have T+3 settlements. Options clear in T+1. Why do stocks take longer than options?