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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (449)	12/22/1998 9:05:00 PM
From: Tim Luke	Read Replies (2) \| Respond to of 2045

paul, let me take a stab at it....if you have 50K (100K margin) and lets say you buy 100K worth of coms and hold it overnight...now you sell it the next day ...you can now buy 100K worth of any stock but not 100K worth of coms.

To: Paul A who wrote (449)	1/2/1999 2:26:00 PM
From: LiveWire	Read Replies (2) \| Respond to of 2045

Paul, I don't know of anyone that charges full commission on each partial. Although I do know of at least one other firm that has wrongfully charged full commission on each partial fill. The trader must then circle the extra charges on the trade confirmations received in the mail and fax them back to the office to get credit. #reply-7067817 Regards, Steven

To: Paul A who wrote (449)	1/5/1999 11:55:00 AM
From: Brett Verinck	Read Replies (2) \| Respond to of 2045

Paul, Again I must apologize for my tardiness in responding to your inquiry, I have been on vacation and have just returned. Let me address the Margin question first. Everything stated in your inquiry is correct, please remember that as long as you sell the position on the same day you buy you are ok as far as BP is concerned. The only way a call will occur is by holding a position overnight, and subsequently selling it the next day. The day trading BP rule then becomes, when an overnight position is liquidated, the funds are not returned for day trading in the same security. You may only use that BP for a different security, if you do a call can occur. If there are further questions you can call our margin department or go to the nasdaqtrader.com site and look up rule 98-102 which was published December 1998. As far as your partial fills, I presume these are on the Island exchange. This being the case I must explain that if you put in an order to buy 2000 shares on Island at a fixed price and purchase all of the Island liquidity at that price the remainder will be killed by the Island exchange. If you put in an order to purchase the balance at a different price, it will be considered a second commission. If there are any further questions please feel free to Call AB Watley Customer Services. ALSO ALL AB Watley Customers have access to the AB Watley Chat Site where any of these questions, technical support, trading, and other traders are on for the entire trading day. watleychat.com Brett