Re: [CANSLIM] New NASD trading restrictions?

From: Spencer48@aol.com
Subject: Re: [CANSLIM] New NASD trading restrictions?
Date: Tue, 18 Mar 2003 17:29:08 EST

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Tom & Robert:

     I think I was, indeed, shooting from the hip.

     As I understand it now (as you explained it in your 3/17, 11:29 AM 
E-mail to Canslim, which, in part, says:  "...Jerome, perhaps you did not 
understand my prior reply, but the attachment you posted from Ameritrade does 
not prohibit you from buying one stock with the proceeds from another sale 
done the same day. It did inform you that your acct was restricted, as I 
pointed out, if you had not done any sales, then that is obviously an error. 
One thing that did occur to me is that you are transferring into Ameritrade 
an acct from another firm. If that acct is already restricted due to a 
violation of a Fed call or Reg T call that was not met, or a sale without 
paying for the purchase, then that restriction travels with the acct on the 
transfer, since that is a Fed Reserve rule, not Ameritrade, nor Schwab...."), 
Jerome bought without his check clearing and then sold what he had bought.  
Of course, this means he would have used Ameritrade as the risk-taker.

     However, I could be wrong in this case too (it might not have happened 
this way).  In any event, in order to save my vision from 
brokerage-speak-fine-print, I think I just want let this subject (at least 
from my side):Drop!

jans

     

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