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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: baddtiming who wrote (76223)	2/16/2000 9:51:00 PM
From: Jim B	Read Replies (2) \| Respond to of 108040

anyone know what this new SEC daytrading regulation proposal is in which they are thinking of requiring anyone who trades more than 6% of their portfolio (in a week I think it is) or trades the same stock 4 times (in a week .. maybe it was a day) is going to be REQUIRED to have $25,000 in cash in their account.. that will all but WIPE out daytrading for many of us here who have under $25,000 and try to make several trades a week.. I'm not so concerned with not being able to trade the same stock 4 times (although i dont like the idea) but I'm more concerned with the 6% rule... good grief.. I trade more than 50% of my portfolio everyday.. I'd end up closing up shop and giving up trading stocks.... put my 401k into an IRA.. buy a few funds and wait 10 years before I could afford to risk $25,000 in the market ; anyone think this will pass?? the brokers are fighting it.. but it sounds like the SEC really wants it to pass and the NYSE has the say-so. Anyone in the know on this? jim