posted
i didnt even notice it but i bought part of a stock on margin, must have calculated wrong and borrowed $1,000 on margin. Do I have to sell $1,000 worth of the stock to get back to all cash and have no margin balance? Thats what im assuming
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
You risked more than the cash available in your account?, was it for a stock over $5?, most brokers dont let you buy a stock under $5 a share on margin
Posts: 550 | From: MI | Registered: Nov 2005
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posted
regardless of the answers you get (reminder: I don't trade on margin), I would most definitely get in touch with the brokerage... Others prolly will have experience and insights, but what counts is how *your* house follows *its* procedures.
posted
yes, sell enough to cover the margin balance or deposit cash in the amount of the margin balance
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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