posted
If you hold a position for three days and then sell, your funds will be available immediately. If you sell prior to three days you have to wait the balance of the three day span to use them.
It's a law beleive it or not....
-------------------- Raptor----Don't confuse bad luck with bad judgement
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quote:Originally posted by PJ: Damn I wish I could get in at .295!
I got my 5k tied up in MCEL right now.
Even if I sell all my shares of MCEL today, Ameritrade says I have to wait 3 days to get my 5k back!! grrr
do all brokers have this "hold" time?
P -- that 3-day wait time is actually from the date of your PURCHASE of MCEL -- i have Ameritrade as well. If you bought on the 5th and sell on the 6th, then you have access on the 8th (3 days from the 5th) -- if you sell on the 8th or later - you should have immediate access. This is as i understand it. hope that helps
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I IMHO the quality of investors is getting much better [LONGS]I am in this stock beyond my normal percentage limit on a OTCBB.I sleep just fine.
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PJ- If you purchased MCEL shares 3 days ago...you can now sell them and use the unsettled funds to buy GTEL. But you would be forced to hold the GTEL shares for 3 days until the funds are settled again. I agree with Thorn...it is much easier to have a margin account. IMHO..
But since MCEL is down....the point is moot I guess
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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gmh37- Most online brokerages only require $2000 account balance to be eligible for margin. I would think most here could at least meet the minimum. IMHO..
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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I was telling these guys that you can not margin GTEL. It is a non-marginable stock. Some of the people here are talking about get a margin account to cover their cash settle time. Won't work on this one...cash only
-------------------- If all goes well then great, if not, make it work.
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George, whether the stock is marginable or not has no effect on the ability to get one's money back in play. I buy only non-marginable stocks and never have to wait to buy another stock after I sell. I started out with $2k and at first even went below that for a bit, without penalty.
Read up on it before you decide to or not to get a margin account. Get the facts straight before you decide either way.
-------------------- May your trading build your character as well as your portfolio.
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