Replies to post #4206 on Innovative MedTech Inc. (IMTH)

[mrfuzzynuts]

Laid off,

I too opened up a Zecco account and do not have a margin yet. It takes 3 days. If you buy the stock on Monday and sell on Tuesday, it should be there come Friday morning. Now, if you buy on Monday and don't sell till Thursday, they already had your money for 3 days and the money should still be there Friday. I called Zecco to find out what the deal was and they told me there is a 3 business day processing for the money to get to "broker".

So far it seems to be pretty accurate. I bought a stock on Friday and unloaded it Wed morning and had the money Thursday. I bought FRHV on Monday and unfortunately unloaded too late on Wed and don't expect to have my buying power updated till Monday.

I hope this helps

[Xenite]

The funds settle in 3 working days. If you sell on a Monday the funds are settled on Thursday and if you sell on Tuesday they are settled on Friday, etc.

But you can still buy stock with those unsettled funds. The deal with that though, is that if you buy with unsettled funds, you can not turn around and sell what you just bought with the unsettled funds until they are settled.

So for instance, if you sold on Monday, you could buy again immediately after, but would have to hold what you buy if you use the unsettled funds, until Thursday before you could sell them again.

Of course if you have a margin account you do not have to wait for the funds to settle. But of course many people cannot meet the requirements to open a margin account. I've found it to be invaluable though, also to escape the pattern day trade limitation the is a SEC rule.

Sorry took so long to reply, had to keep an eye on my main stocks today after the Goldman fiasco.