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Replies to #53832 on Biotech Values
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exwannabe

10/24/07 4:07 PM

#53836 RE: DewDiligence #53832

Re: scottrade IDIX issue.

If he was on margin in the account, then yes they can make account specific rules. A good example would be if the account was hevy in small biotechs.

But for a cash account (or a margin account account that has a net cash positive position) that makes no sense.

Interesting that somebody over on Yahoo! made the same point about E-trade a few hours ago.

I really don't know if this is something very strange, just a mistake, or total BS (no accusation intended, just listing the possibilities).

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kaivamei

10/24/07 8:21 PM

#53843 RE: DewDiligence #53832

IDIX at Scottrade:

After the spike, I couldn't buy either, so I called and bought over the phone. They said that IDIX wasn;t on their restricted list.

For what it's worth, the account I was using is not a margin account, so margin is not the culprit.

I should have asked if they have some security catch to prevent fraudulent trades that kicks in when a security moves too far up and down (or vice versa) too fast. But I didn't think of that at the time.

-kaivamei