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

To: Harry who wrote (3147)	4/29/1999 10:07:00 PM
From: BarbaraT	Read Replies (2) \| Respond to of 108040

I was put on restriction with NDB for buying and selling the same stock in a day, and then using the proceeds to buy another stock. They told me that to remove the restriction I had to (a) send them the cash within 3 business days and (b) open up a margin account to avoid future restrictions. However, if the amount spent trading in a given day exceeded the amount of usable margin funds, I would again face restriction. So ... I opened a margin account and thus far, have been okay (don't day trade that often, so haven't run into the problem).

To: Harry who wrote (3147)	4/30/1999 12:59:00 AM
From: Jim B	Read Replies (1) \| Respond to of 108040

all i know is I've used ETRADE for 2 years ... have never had a problem buying or selling the same stock in the same day.. heck, I've been doing it all week with EDIG and WLGS... and I've used the proceeds from the sale to purchase the next stock and didn't have enough cash to support it... so they have always allowed me to trade based on this rather than having to wait for the trade to officially clear ( that 3 day rule thing)... if they ever tried to restrict me on this, I'd definately be gone and I have over 1,100 stock trades with them. Still waiting for them to give me some kind of discount on trading.. but they never email me back when I ask them to. jim