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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Dominick who wrote (12862)	5/4/2001 7:59:35 AM
From: chris-	Read Replies (2) \| Respond to of 18137

They should have a grandfather clause...traders that have traded for "x" years or "are" trading by "x" date will not be subject to new rules..this might help those that trade with smaller ports currently and are still able to trade for a living as Vadym pointed out. Just my 3c, which I guess I beat the street by a penny according to First Call who had my opinion only worth 2c <g> Chris

To: Dominick who wrote (12862)	5/4/2001 9:44:31 AM
From: Allan C.	Read Replies (1) \| Respond to of 18137

"Yes, that's correct! But that's not the point! The point is what the hell right has a non-legislative department have in making rules that interfere with a citizens right to make their own decisions when and how to play the markets" Well said.

To: Dominick who wrote (12862)	5/4/2001 10:20:43 AM
From: bozwood	Read Replies (1) \| Respond to of 18137

Funny thing is is that I can go down to the casino, if I want, and use my credit card "margin" to gamble as much as I want. I really wish the government could find more ways to protect me from myself.

To: Dominick who wrote (12862)	5/4/2001 5:20:33 PM
From: Apakhabar	Read Replies (4) \| Respond to of 18137

Dominick, they have every right to make whatever rules they want when it comes to MARGIN, which is, after all, a loan. Since when is a loan akin to a constitutional right? We're not talking about being denied margin based on sex or skin color or religion. As for Bozwood's point about credit cards at the casino, that again is a loan the bank issuing the card is willing to make. For trading, under the new margin rules, you will absolutely still be able to double your buying power with the use of that same credit card assuming you have the credit. It may sound harsh but if a trader can't qualify for a line of credit for 25k then what is the basis for his claim that he must be given margin? This isn't a matter of trying to protect traders IMO. Somebody has decided, for whatever reason (and it doesn't make much sense to me but I don't have all the information that they do) that these loans (margin) to traders with limited capital are too risky to undertake. The more I think about it the less I think it's a big deal. Tell me the difference between getting denied a loan for a house because you don't have a big enough down payment, and these new margin rules. It's a matter of collateral. I don't agree with the new rules, and I think they were hatched during the dizzying fall of the Nasdaq, which got the lenders thinking about risk for the first time in a few decades.