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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: JIMMY LIU who wrote (3843)	5/25/1999 1:32:00 PM
From: eDollar.com	Respond to of 16809

Yes theoretically you should. Other wise it is a free ride, which is prohibited by SEC

To: JIMMY LIU who wrote (3843)	5/25/1999 1:32:00 PM
From: Keith Rosenblatt	Respond to of 16809

My understanding is that you will have to have the cash in there to cover it, yes. Doing otherwise is called a "free ride", and is prohibited by the SEC.

To: JIMMY LIU who wrote (3843)	5/25/1999 1:33:00 PM
From: steve stark	Respond to of 16809

Yep, SEC Regulations require it. Who knows with wit, however... steve

To: JIMMY LIU who wrote (3843)	5/25/1999 1:37:00 PM
From: Kaliico	Respond to of 16809

If you trade a stock you never fully bought in you cash account... Did this once by mistake years back, broker locked my account for 60 or 90 days as per SEC rules. MJY

To: JIMMY LIU who wrote (3843)	5/25/1999 1:42:00 PM
From: AmericanVoter	Respond to of 16809

Jimmy Liu, I wonder if the following scenario will work... sell something else in your account today to cover the 200 shares of BNBN at $18/share, then sell the BNBN and buy back what you sold earlier... of course you are taking a chance that the money will be made available in the account to buy what you sold earlier and that what you sold might go up meanwhile... but, looking at todays action... highly unlikely... just a thought amein