Replies to post #188379 on Sulja Bros. Building Supplies, Ltd (SLJB)

[steeltoe]

You need to open a margin account. It takes about 30 seconds to fill out the form and fax it in. Then you can buy and sell the same day with no problem. DO NOT buy and sell the same stock more than 3 times in 5 trading days or you will be a "Pattern Day Trader" and MUST have 25K in your account at all times.

Hope this helps. I have a Scottrade margin account, but I only invest my money rather than buy on margin with theirs. Less chance of me losing the farm.

[bagsadollars]

That rule applies to everybody, (i have scottrade also), and I believe it is "Reg.-T" that mandates that. Shares you use to flip automatically default to FIFO (first in first out). You can rebuy with what you sold but then must wait to resell those shares for three days until they settle.

[DigitalTradz]

PAPPEE--I have Scott also and the worst that will happen is a free ride. If you never had any before, you will get an email and a phone call warning you about the free ride. Happened to me twice and that's what I got. I think it is third time get's you a restricted account for 90 days.

[binzur]

But you can buy back in if you have changed your mind on this investment as long as you do not sell the buy back until either Friday or Monday. I was very upset when I read and have read all of your posts since Monday. I have also lost a ton.

You have a very simple decision. If you believe that things have changed and you can recoup some or all of your losses here then you buy back at the lowest price you can. Nothing can change what took place Thursday, Friday and again on Monday. The losses we incurred are because of bad decisions that we made! No one else is to blame for our bad decisions. Others may/will pay for providing information if it is proven to be false! That is down the road. Our problem is how to recoup without losing any more and each investor must make those decisions for themselves. Looks to me like you got out just before it was going to go sub penny. If the PR didn't come out yesterday this absoulutely was going sub penny. Some here will bash you for doing that but $9,000 is better than $4,000, or 0. Now you need to make sound decisions and start working your way back one smart trade at a time.

This one does have a pulse and short term does have some upside if you believe Steve Sulja can fix the problems. This also has the potential for SEC stop if all keep complaining to them and they come in and investigate and halt. Major risk/reward senario and only you can make your decision.

If it will make you feel any better I am one of the only people here who bought shares at .205! LOL!

GLTY, my prayers are with you and many others here who like myself lost more than they could afford to lose. Last piece of advice is get over the past mistakes, learn from them and try not to make them in the future!

[Hockmir]

Maybe reading my message #152411 will help you understand some of the subtelties of the Reg-T stuff, especially how to trade non Reg-T shares from a supposedly frozen out position.

http://www.investorshub.com/boards/read_msg_ig.asp?message_id=14674645