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Help me out here - could a few of you PM me with the way your brokerage calculates daytrading margin. Freetrade claims that they are just following the NASD rules and they don't see that any system that gives LESS daytrading power than regular margin is jacked up.
I'm starting to think that Freetrade is just some web geek playing with an idea and making up software as he goes.
Freetrade - something is really wrong there. My account now shows no buying power call, apparently they went to manually correct my buying power to $3894.24 and put it in the call area instead of buying power balance.
At one point they gave me a call when I wired money in and used it the same day.
Their software seems to be really bad.
Again, caution to anyone who uses this brokerage.
I have started a thread and will try to put some info on it when I calm down :)
Freetrade - it has been over an hour since I asked for an explaination of my daytrading infracton. Normally they answer in 10 minutes.
The only response I have gotten is the RAISING of the call. Freetrade SUCKS. Tried to get through to Ameritrade management but was unsuccessful.
Freetrade - I am livid. Before hours I had a $600 call and they've changed it to $3800 now.
Something is really wrong here.
Freetrade - I am getting really frustrated with this account. Daytrading allowances are smaller than regular margin. I don't know how they come up with it. I have gotten a second daytrading call from them, even though I traded very conservatively yesterday.
Does anyone know of a good, definitive interpretation of Reg-T. It seems as if the law is so poorly written the brokers can go any way they want with it. My boyfriend's margined to the max $4000 daytek account has a larger daytrading allowance than my 32,000 50% equity freetrade account.
I still think this is a head fake designed to liquidate gold reserves before massive devaluation. Biological engineering will make gold too readily avialable in 10-20 years.
** now I'll pull my head back inside my shell to dodge the fallout **
Last year on SI someone was talking about the Home Depot clearance sale generating some nice numbers at the expense of their suppliers.
Apparently HD has enough clout to get goods in at little or no cost on a "trial" basis. These goods were blown out below wholesale last Janurary (I'm remodeling my house and I took some home myself :). Since the cost was WAY below wholesale they were able to liquidate below wholesale and still show a profit.
I know this is just hearsay, but it rings true with my personal experience. I am seeing a lot less clearance merchadise in both Lowe's and Home Depot this year. I am speculating that they stocked leaner and therefore have less to sell out. Lack of bargains could mean substantially weaker January sales.
I'm glad you got some. At this time SEPR is my pick for "poster child" in the biotech rally.
I'm holding my core positon but was able to day trade it from 9.77 to 10.06/10.23 today. I've got what Zeev calls a "cushion" on this one.
Tuesday a block of 153,300 went at 9.84. Today 25,000 went from 10.50-10.70. The block buying seems to support a continued upward trend.
How long have you been trading? Still in the "the more I learn the more ignorant I feel" mode myself.
"but cant see most people wanting to hold over the holiday"
This just struck me as an odd thing to say. If most people weren't in fact holding their positions for more than a few hours or even a few days, the market would implode.
There is an underlying assumption on your part, but I'm not sure what it is. Could it be that you think only traders matter in moving the market?
Thanks. Where do you find the instructions for posting a chart?
The movement I saw was after the close, it won't show up on the charts, and some of the blocks were the largest of the day.
Looking for the "recommend this post" and couldn't find it LOL!
Yes, I do expext Pres. Hillary will happen. Can you imagine what a boon to the economy that will be? Tens of thousands of over 50 conservative republican males will die of heart attacks on election night reducing the future load on SS & MEDICARE by about 10%, the flat tax will get passed and the national productivity rate will go up another 15% (reduction of forms and un-necessary book keeping), and the final law to balance the budget will be a "sin tax" on philandering husbands....
I'm seeing quite a few nice block trades in after hours. I think they're getting ready to bounce the BTK.
Please shut up -
OK, isn't this where the UN should step in and mediate the enforcement of the PREVIOUS agreement?
Zeev, or anyone else who understands this - did we actually fail to deliver the promised alternate reactors? When did this happen and who made the decision?
If we promised them fuel and technology to keep their people from freezing and failed to deliver, the internal political pressure to do SOMETHING must be tremendous.
Is there any wonder they have declared their intentions to re-start the old reactors?
Zeev, I admit a great deal of ignorance in matters of foreign policy.
I read this on the Yahoo fuel cell thread.
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=4687441&tid=erc&sid=4687441&...
If the poster is correct, I am more afraid of our government's agenda than that of the North Koreans (which would seem to be survival).
12/27/02 12:07 pm
Msg: 69851 of 69919
The North Koreans had nuclear weapons before Clinton was in office. President Clinton's agreement accomplished having NK's plutonium-generating reactors shut down and locked up under UN , onsite supervision. In exchange for halting the production of plutonium from NK's reactors, Clinton negotiated an exchange of GE light water reactors (to deliver electrical power) and regualar shipments of heating fuel oil. The GE lightwater reactors were never built.
Because the NK's secretly developed a uranium enrichment program to develop fissile material by another, somewhat less efficient route, Bush cancelled the fuel oil shipments--and chose to walk away from further negotitations. Because the North Koreans believe that this Bush administration is interested in active military invasion of other countries and regime change (I wonder where they got that idea?), they have been prodded to engage in brinksmenship by putting their plutonuin reactors back on line and possibly using the already manufactured plutonium locked up under the Clinton agreement into bomb production.
The Bush Administration's war rhetoric is the most ham-handed foreign diplomacy I've seen in 40 years. Everything Bush and his hawks decide to do works to produce the very events good diplomacy would strive to curtail. Bush has talked himself into a corner--unwilling to talk to North Korea unless they do waht he wants first (while they possibly assemble many new bombs in a matter of months) and leaving the NK's to assume a military strike against them isn't out of the question. This is dumb.
After market hours, could you expound a bit?
I would like to understand the criteria for and definition of your tactics a bit better.
Thanks -
Zeev, did you look at SEPR? Range is narrowing and with all of the block trading that took place on 12/20 (quite a few at 9.50) I think they are getting ready to run with this one.
We have PaulA and Paula posting on Zeev's board. Aren't those two handles too close? Could PaulA be Paul_A or something and I would suggesst not permiting a case unique handle in the future.
Paula doesn't do much shorting yet, PaulA is the one who posted... Gee, shoud IHUB permit an alias that is that close?
I would hope they would be forced to develop the system in such a way that the MSFT java doesn't conflict with the SUN. I installed a Freetrade program last week and discovered that it killed my Etrade program because of the java conflicts. Each seems to think the other is an "outdated program".
I'm still learning to trade, but SEPR seems to trade in a range quite a bit, and the momentum is not to slow and not too fast (good for a rookie).
It also seems to have bottomed out and if this market gives half a chance it could be in recovery mode.
Zeev, have you ever traded SEPR? It's the one that makes the easiest money for me. I'm not sure why, but I guess I should stick with what works.
What do you look for when deciding which stocks to trade?
Management was saying they were going to sell off the technology for months. They were running out of money so they had to. The licensing was better news than expected.
I didn't take profits when I should, I was too busy trading SEPR. No biggie, I think the stock will continue to recover. The blocks were HUGE on the way up and the block action above .65 today was decent too.
Even if your theory is correct - there will be exceptions. ORCH was such an obvious play last week. The news was expected, the shakedown was obvious. I'm thinking I was crazy not to have bought more...
Didn't know you were into blow-up dolls...
Why not a woman? They know a lot more than "girls" *wink*.
They are usually betrayed by a not so quiet desperation or that little white line where the wedding ring belongs.
Just as long as you don't break it into the ice- (a bartender's worst nighmare)..
So glad to see you have Gewertztraminer.. Now sit me down near the saxophone in the band and point me to the unattached males in the crowd...
Bully for her!! It's about time a woman had enough balls to play the game the way the guys do.
I'm still in learning mode myself, but I had quite a bit of confidence in that one or I woulnd't have posted it on this esteemed thread :)..
Glad you got in on it.
Thank you. I had forgotten about that. Interesting that there still seems to be at least a .25 cent spread on the price.
Forgive me if I am being obtuse here, but how would that apply to SEPR specifically? Blocks are trading at 9.30-9.50. Intraday high was 9.55, stock spiked to 10.66 yesterday on news, but they ran it down hard. On the 16th they traded all the way down to 7.12.
Could it be that it was just held down for options expiry?
Just trying to understand the why behind the numbers.
Thanks..
Blocks flying fast an furious on SEPR after close. Don't quite know what to make of it, comments welcome.
Did anyone buy any ORCH?? It's starting to take off.
Computers did not become mainstream until the '90's. You are being obtuse.