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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Shaquapa who wrote (1972)	11/14/1998 6:46:00 PM
From: wmwmw	Read Replies (2) \| Respond to of 7382

Does any one know if I close an overnight position I can't use margin again until next day? <I used to use Watley - and they are a terrific firm to deal with in all respects except one SouthWest adheres strictly to an SEC regulation that does not permit you to margin securities overnight, sell them the next morning, and then use the proceeds to buy the same named issue afterwards on the date of sale. You can use the proceeds to buy a different named security, but then you cannot sell it until the following day. This rule does NOT apply to any free cash balance in your account - only to margin amounts that are borrowed to finance your activity.> Message 6331841