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

To: Mama Bear who wrote (3687)	2/6/1999 4:06:00 PM
From: Dan Swartzendruber	Read Replies (2) \| Respond to of 7382

At least with these daytrading firms. With Waterhouse or Datek and I can buy and sell to my hearts content with the released funds. Same stock to daytrade, hold overnight, buy another name to daytrade, then trade back into the stock I held...whatever I want within the limits of my funds. Why is the rule different at SWS? I don't understand, and this is one thing that keeps me from opening an account with one of these outfits. The only thing I can think of is that waterhouse and datek are not following the rules. It would not be the first thing datek has been sloppy about (although I thought waterhouse knew better). It may hinge on whether your account is defined as a daytrading account? Most of the web-based brokers probably don't define you that way (although if you are in fact daytrading, there could be hell to pay if SEC/NASD found out). I'm kinda curious now. I'm going to look into this more...