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msturgeo

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msturgeo

Re: Rckhnd post# 4636

Tuesday, 08/09/2005 2:04:24 PM

Tuesday, August 09, 2005 2:04:24 PM

Post# of 44374
Rckhnd -

Actually - you are allowed to buy and sell on the same day - you are just not allowed to trade again with the same funds for 3 days. No one can be held prisoner in a stock.

So for example -

You buy on Monday AM 100 Shares of GTE -
On Monday afternoon after a dynamite trading day - You sell GTE for a profit.

Stop,

The capital invested for the 100 shares is now tied up for 3 days. If I did not stop and went to buy XYZ company, I am going to be restricted for 90 days.

Trust me...happened to me.

I have confirmed this with my online broker service through Bank of America.

MS
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