LARRY BRUENING - About 3 day rule
Sign a margin agreement in your account. Even if you never trade margineable stocks,you may trade without waiting for settlement. Just dont daytrade more thsan 3 times in a 5 day business week, unless you have over 25K in the account,then you can daytrade all you want. A daytrade is buy,then sell,the same stock on the same day.Selling it first,[what you have from before],then buying it back is not a daytrade. Remember,all ytou need is to sign margin agreement,does not mean you have to buy on margin [$5.00 or higher stocks for margin trading only].