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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Sojourner Smith who wrote (54800)	9/3/2001 6:28:27 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

To all concerned: SEC Wants to change rules. . . It is up to you to let them know how you feel about their proposals. sec.gov One item which seems hot on their agenda is the removal of restrictions from short-selling, including the short-sale rule. . .or to put it in the actual words of the SEC they are interested in "eliminating short sale regulation altogether." sec.gov Voice your opinion. While you are at it, fire off a copy to your representatives in Washington. pirg.org Sojourner Smith, Here is some info on margins from SEC: sec.gov and from NASD Regulation nasdr.com [this contains info you were seeking] The changes you have heard about have already been enacted. Before you needed $2000 to open up a margin account. You now need $25,000. Many changes on trading in such accounts have also been adopted. This new Margin Trading [or as they call it "daytrading"] rule was adopted by the National Association of Securities Dealers and approved by the Securities Exchange Commission. So those persons who have been "daytrading" [now defined by just 4 trades per week] with under 100K who may have divided their trading accounts among different brokers, etc. . . . or those who may have sustained recent losses on this downturn have been essentially "cashed out", by the NASD. You are no longer able to trade on margin. The NASD Big Boys want you out of these markets now . . . right here at the recent lows [note especially the timing of this rule change: it was OK for small investors to get plenty of margin on the way down, then before markets start moving up again, margin is removed]. . .like it or not. . . you get no choice. . .the rules have changed. That is just the way it is. If you have not been active in voicing your opinions right along, this rule may have caught you by surprise. Do yourself and every other Individual Investor a big favor. Voice your opinion with the SEC and NASD on a regular basis. It may not seem effective yet, but over time will make a difference. Rande Is