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brick, that's what I need. I sold a portion of my FLCR position on Monday last week and immediately bought another issue. Before my sale of FLCR settled, the other issue lost about 33%. If not for the 3 day settlement rule, I could have avoided a loss that large.
BTW, whether or not I'm charged interest really isn't an issue. Just curious.
omni, thanks. I'm currently with Ameritrade so I'll see how it goes.
skunksyard, If you sell stock "A" on Monday and immediately buy stock "B" with the unsettled cash from the stock "A" sale, you can't sell stock "B" until the cash from the sale of stock "A" has settled. Technically, you're selling stock "B" before it's been paid for.
Ameritrade has informed me that selling a stock bought with unsettled cash before the cash is settled will freeze my account for 90 days.
DeeDee, I don't have 25k in the account and I always trade cash. I don't day trade but would just like to be able to exit a position bought on unsettled cash on the next trading day.
However, if this isn't possible without a day trading status, I guess I'm stuck with the 3 day rule.
DeeDee, thanks. So if I only use the margin account to circumvent the 3 day settlement rule, I'm never actually borrowing any money? And I can do this with penny stocks?
That would be great as I got caught in one earlier this week that I couldn't get out of due to the 3 day rule.
BTW, using Ameritrade here.
chipped2003, I had thought about a margin account to get around the 3 day settlement rule but thought that the stocks in question would have to be marginable.
If, as you say, you're in fact not buying the stocks on "margin", do you pay any interest when using your margin account to circumvent the 3 day rule?
TIA
(AAC) Omni, been watching your board for awhile. Thought you might like this one:
OT: blue, the way I prevent popups is MyIE2 browser. It's an IE shell so all your favorites are right there. No importing.
Also tabbed browsing, meaning several windows can be open without loading up your task bar.
I've been using it over a year now.
http://www.myie2.com/html_en/download.htm
I'm using the 560KB lite version.
"Angst- now there's a word not used enough."
Well, we're not teenagers anymore. AFAIK, only teenagers have "angst"...lol
phoenix_newbie, I've transferred accounts twice and both times it took about half the time they advertised.
Never had a problem transferring.
phoenix_newbie, for this kind of stock I'd recommend a broker that gives an unlimited number of shares for a single fee.
Many brokers have a 5K share trade limit. Meaning that if you want 20K shares, you've got to execute 4 trades and get charged 4 times. Otherwise they charge their regular fee plus 1¢ per share for trades over their limit. This isn't cost effective.
Some brokers won't allow OTC or pink sheet trades.
Two brokers I know of with unlimited share amounts and OTC and pink trades are:
http://www.rjt.com/ ($9.95 trades)
http://www.ameritrade.com/ ($10.99 trades)
I use Ameritrade and alot of people I know use rjt. Both have fast trade executions. Rjt probably has better tools such as real time quote applets.
There are other good brokers so take your time choosing one.
flydoc, it makes me think it's August. Probably the deadest trading month of the year.
lost, as long as you refuse to back up your outrageous claims and accusations, your input is worthless for any discussion.
lost: no proof, no truth
lostgold, we've all done our Due Diligence. And we continue to do so.
Everyone else here is forthcoming in providing the links to prove any statements they make.
You don't.
Therefore there's no reason for anyone to assume that there's any truth in what you say.
No proof, no truth.
lostgold, I don't need to go back thru past posts on RB to do my DD. Reading message boards has nothing to do with Due Diligence as you seem to think.
I do know why the phantom was convicted and it wasn't securities fraud, however I'm not the one making false claims about it. I have no responsibility to back up claims I haven't made.
Now if you would do your own research into the matter, instead of asking me to do it for you.........
"He is a convicted felon--securuties fraud!!"
My, my ,my. You're not telling the truth at all here. Could you post a link to back up your allegation that he was convicted of securities fraud?????????????
"It would be like putting everyone in jail for speeding."
No it's not. There's quite abit of difference between a traffic moving violation and theft.
This is a capitalistic society and theft is taken seriously.
I don't think the courts are going to get tired of prosecuting theft.
Here's an interesting article:
http://www.investorshub.com/boards/read_msg.asp?message_id=1121834
More popcorn for this week, morning Arch
http://www.zing.com/picture/p996e4109dea79d3b06c4477cf112b02d/fe77e5f8.gif.orig.gif
xx, I just edited that post with a link that actually works
xx, I captured those from MetaStock with PrintKey, then uploaded them to zing.com. Here's a link to PrintKey, you can capture any or all of what ever's on your screen
http://www.rioserra.com.br/download/tela2.html
When you save a pic be sure to save as .jpg or .gif. Otherwise it's saved as a .bmp which is a huge file
xx, I can't get it to work with mine. Maybe a different server would work.
xx, was my failed method usually correct?
xx-it's gotta go right away. One way or the other. Tuesday should show what's up. (or down)
OK, here ya go. Wedgies for the week
Hope this works (Again)
http://www.zing.com/picture/p45c381be1a86c147932ee2d9f3cb345c/fe79c8d8.gif.orig.gif
http://www.zing.com/picture/p6e334dbceea21e1a5c2dbeceb9930c17/fe791c93.gif.orig.gif And some past successes
http://www.zing.com/picture/p83b4f376ccdf71637a85e54fa63c19ee/fe791c96.gif.orig.gif
http://www.zing.com/picture/pcc2fd66f0c7cfd2147a4410c7bcaf1bf/fe791c95.gif.orig.gif
http://www.zing.com/picture/pd7f93847d7a6f3bf1423d315db3a3aab/fe791c94.gif.orig.gif
As you can see, the day to jump in is the first day they poke their heads up and close above the down trend line
OK, here ya go. Wedgies for the week
Hope this works
<URL>http://www.zing.com/picture/p45c381be1a86c147932ee2d9f3cb345c/fe79c8d8.gif.orig.gif</URL>
<URL>http://www.zing.com/picture/p6e334dbceea21e1a5c2dbeceb9930c17/fe791c93.gif.orig.gif</URL>
And some past successes
<URL>http://www.zing.com/picture/p83b4f376ccdf71637a85e54fa63c19ee/fe791c96.gif.orig.gif</URL>
<URL>http://www.zing.com/picture/pcc2fd66f0c7cfd2147a4410c7bcaf1bf/fe791c95.gif.orig.gif</URL>
<URL>http://www.zing.com/picture/pd7f93847d7a6f3bf1423d315db3a3aab/fe791c94.gif.orig.gif</URL>
Morning XX, would ya like my wedge page posted?