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

To: john o who wrote (823)	3/14/1999 8:02:00 PM
From: David Sirk	Read Replies (2) \| Respond to of 2045

I have been hearing Too many horror stories with margin accounts these days. In these fast moving markets one could drop 100 grand with out even knowing it. And all the brokerage will do is refer you to the fine print.

To: john o who wrote (823)	3/14/1999 8:25:00 PM
From: AlienTech	Respond to of 2045

>>Even in a cash account you have three days to settle << If you want you can come up with quite a few methods and ways to everything but in reality and fact is quite different. None of the brokers I know will let you buy/sell your maximum equity and then buy something else without additional funds being made available available. Like Alex brown and Solomon smith barney. I have never used cash only accounts with online brokers so dont know how they behave. I do not know all the exact sec/fdc specifications but I am sure they have quite a few since each broker have a variation of it. And as Steve at yamner says, they wag the tails and say nothing since it is not written down but becomes final once its in the courts. And also on top of everything ABW has something which I havent seen at etrade, datek or schwab but I belive it is an sec regulation, which is you can not sell a security you held over night and then buy it back without cash already in the account to settle the trade. IE you have 42K in your account, you bought 2000 shares on margin of DELL @ 42, Held it over the week end and sell on monday morning. You can not buy it back.