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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Len who wrote (2841)	12/30/1998 6:31:00 PM
From: Jerry S.	Read Replies (2) \| Respond to of 56535

Len: 1) I use DLJ as one of my brokers and they only allow stop losses on NYSE or AMEX stocks, no NASDAQ-related 2)In a cash account, you can only buy securities in an amount that would not exceed the cash available in your account at the start of the day, however with DLJ you can pony up any excess amounts before the settlement date (up to $15k, i think). Any sells during the day do not increase your buying power in your cash account, until the funds settle 3 days later. 3)Yes, you can trade in an IRA Hope this helps

To: Len who wrote (2841)	12/30/1998 10:58:00 PM
From: BarbaraT	Read Replies (2) \| Respond to of 56535

1. Stop orders ... I get the same message with NDB - however it applies only to stop limit orders ... you can place stop orders (not limit) 2. The reason about the day trading is ( and this sounds ridiculous, I know) that if you buy and sell a stock in the same day, you cannot use those funds from the sale for 24 hours. Therefore, if you have a margin account ... you have the use of other funds to "trade". 3. Don't know the answer about IRA - but I have purchased something in mine only to sell it a day later. So I would imagine you can (unless there is some rule about frequency that I am unaware)