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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (83238)	4/18/2007 8:03:09 PM
From: Wyätt Gwyön	Respond to of 206325

you are right, it doesn't affect margin accts, but i'm talking about IRAs. in my case, most of my assets are in IRAs, and the positions in my taxable accts tend to be long-term and i don't really trade them. my taxable accts are margin, so they weren't affected. but i think if they had been cash accts they would have been affected.

To: Big Dog who wrote (83238)	4/18/2007 8:13:09 PM
From: Wyätt Gwyön	Respond to of 206325

the strange thing was, back in the day (i mean 1999, when ten-baggers were a dime a dozen), there were none of these settled-funds restrictions. i think it's something the SEC got anal about a couple-three yrs ago. back in 99 i was constantly doing things like selling common stock and immediately buying options, then selling options and buying other options, several times a day. i could daytrade my IRAs just like margin accts (except of course i couldn't actually borrow money). as long as the trades all netted out to a cash surplus, there was no problem. on the other hand, back then it was very hard (though not impossible) to find a broker who would let you trade cash-covered puts in an IRA (even though it's no more "risky" than covered calls). now it seems they all let you sell cash-covered puts. trading fees have come down so much i think borkers rely increasingly on their MMFs as cash cows.