Yup, you have to wait three days. Call your broker for confirmation. What you should definitely do, buddy, is upgrade your account to a margin account. With margin account, you can do buy-sell three times within any 3 day period without penalty. It costs nothing and is not a big deal to setup.
Yes. You have to hold for three days or wire funds to your account to cover the cost of buying. I sold some today as well. I should have been playing the swings for the past week but hindsight is always 20/20. "Pigs get fat, Hogs get slaughtered "