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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (49401)9/13/2012 3:47:46 PM
From: Paul Senior  Read Replies (1) | Respond to of 78748
 
Grommit, sorry for your brokerage troubles. Within an ira, if you sell a stock and buy another stock, but 1) there wasn't enough cash already in the account to pay for the new buy, and 2) the stock you sold didn't yet settle (settlement usually being on the 3rd day after the trade), then according to the fed's, you have bought that other stock on margin. Has happened to me. As I recall, the broker allowed the trade (allowed the sale and allowed the new buy), but I got a warning letter. Couple/three of those letters within a year, and I get my trades restricted.

Maybe that has something to do with what's happening when you switched from A's to B's???

Situation very strange and unusual, I agree.



To: Grommit who wrote (49401)9/13/2012 9:13:28 PM
From: Madharry  Read Replies (1) | Respond to of 78748
 
I dont understand it. if you sold the share prior to the announcement, what does that have to do with you or your shares? BTW when i used to deal with e-trade, I tried to work with them on a reorg and got nowhere with them. they seemed either dense and or rigid . so i moved most of my business elsewhere.


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