Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Rick D. who wrote (3154)	6/3/1998 9:10:00 PM
From: Richard James	Read Replies (3) \| Respond to of 4969

Copied from SureTrade's web site: <<NYSE Rule 431 (the 90-day restriction rule) A "day-trader" is any customer who purchases and sells (or sells and purchases) the same security on the same day, regardless of their opening or closing position. If a client is "day-trading" in a cash account, this falls under the "90-Day Restriction Rule". According to Rule 431, "no member organization shall permit a customer to make a practice, directly or indirectly, of effecting transactions in a cash account where the cost of securities purchased is met by the sale of the same securities". If a client sells securities in his or her cash account prior to having paid for them, no additional purchases may be made in that account for a period of 90 days following the sale, unless full payment is received before the order is executed." >> Richard James