2 of my British friends say GZFX is becoming the hottest penny stock in Brussels and within the Brtitish Army investors.
1 has bought 200K shares and the other over 3,ooo Euros worth of GZFX the past 3 days, since I sent them the Alert.
This is becoming a world epedimic.
They are having all of their buddies go to the CC and click on the GamenFlix link, they can't buy but somehow CC is tracking the number of visits to GamenFlix site.
Goldman, I think the thing most people miss is that you need to have a margin account to do this. Although they are not "marginable stocks", by signing the margin agreement, it allows you to buy/sell with uncleared funds.
Goldman....Good morning and Happy Thanksgiving to you and yours!!!
In the post you are referring to the guy bought GnF and then sold it and tried to buy it back without having a margin account set up. So he is obliged to live by the three day settlement rule before he can trade on those funds again.
Last year I got nabbed by Scott for being a pattern day trader. They let me use the one time exemption from avoiding the penalties for breaking the "free ride" rule. There policy is you can only make 3 round trips in a 5 day trading period. However they have no problem with making as many swing trades as you want to. You simply have to hold the stock at least over night.
I avoided all this nonsense by keeping my account above 25K and there is no problem now.
Goldman, I use Ameritrade and the scenario is this. I buy 10,000 shrs of ABC and sell them the same day. The funds will not be available to use again for 3 busi days. This applies to each stock you own. If I buy 20,000 shrs of CDE and hold them for 3 busi days (the funds have been settled), when I sell them THEN the funds are availble to use immediately. There's always a 3 day lag time for funds settlement. Happy Thanksgiving to all....RTB
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