Allstocks.com's Bulletin Board: question please help.

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Posted by 32counter on :

I am a newbie and have been learning some very red lessons the past couple of days. I recently deposited another 1000 from my bank account into my etrade account and also sold a stock. So I had about 1700 to throw in. I bought a huricane penny for 700 and a phamacutical that is being pumped for a grand. The pharmacutical shot up around 20 percent and I tried to unload so I could pretend that I was Warren buffet for a night. When placing my order they kept giving me the 90 day suspension warning. Is there a way I can get around this. Maybe put more cash into my account to cover or something. This thing is dropping like a rock. Any help would be greatly appreciated.

Thanks
32

Posted by T e x on :

tell your broker exactly what you're telling us, and beg to learn how to avoid in the future, and promise to do that, then do it...

Posted by 32counter on :

thanks tex

Posted by T e x on :

[Wink]

Posted by Hannibull on :

do you have a margin account? Seems like maybe you daytraded too much (you cant daytrade more than 3 times in 5 business days if your account value is less than $25,000), that OR maybe (though thats never happened to me before) you traded with unsettled funds?

I agree with Tex, your broker will know the answers, good luck!