G'evening Penguin,
I do not work in the market in a traditional sense. I am a
research analyst and consultant. Mainly I will consult on business
ventures, staffing, financial, technolgy, and sometimes provide
cost analyst for production environments. My market knowledge
mainly comes from friends and family in the field and my own
schooling.
As far as trading after a reverse split, as long as your broker
has changed the shares from XXXX to XXXX-D, you can trade as
usual. You can buy at any time after the reverse split. However,
it is normally up to your broker when you can sell.
The 20 days applies to how long the D will be on the stock. Some
brokers will not alow you to trade a stock after it has done a
reverse split until the D drops. These are usually smaller firms.
Reverse splits happen daily for tens and sometimes hundreds of
companies. You will have no issue trading as long as your broker
changes the shares over quickly enough.