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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?


To: BarbaraT who wrote (3145)4/29/1999 9:55:00 PM
From: SteelerStu  Respond to of 108040
 
thanx barb -- I got approved for margins after the restriction happened -- now i have to wait out my 90 day sentence -- maybe I should call and see if I can get a pardon from the wardon --- ---



To: BarbaraT who wrote (3145)4/29/1999 10:02:00 PM
From: Harry  Read Replies (3) | Respond to of 108040
 
Barbara and JimB re: Restriction on Trading

DLJ put me on 90-day restriction once for buying a stock, selling the same day, then buying another one. I have a margin account, but it didn't mean anything trading unmarginable stocks. DLJ said I had to come up with the funds to pay for both my buys since they didn't count my first sale as paying for the second one.

I always assumed I had to hold overnight to avoid the restriction. I'm now with etrade and it never occurred to me that I can buy and sell many times during the same day. Is this true with etrade??

Enjoy this thread,
Harry