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#46
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again my ignorance shows through. i thought that if a stock hadn't split we would only be able to buy 10k shares of it.
perhaps i should just stay out of it until the specifics are released before i confuse anyone else 
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True patriotism hates injustice in its own land more than anywhere else. - Clarence Darrow Widespread intellectual and moral docility may be convenient for leaders in the short term, but it is suicidal for nations in the long term. One of the criteria for national leadership should therefore be a talent for understanding, encouraging, and making constructive use of vigorous criticism. - Carl Sagan 
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#47
22 Dec 2007, 06:26 PM
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Stocks that have not split -- you can buy/sell 10,000 shares daily
Stocks that have split: Current max - 40,000 then you can buy/sell 40,000 daily Current max - 50,000 then you can buy/sell 50,000 daily Current max - 100,000 then you can buy/sell 100,000 daily Any splits greater than 100,000? Do NOT sell, because you won't be able to buy them back
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#48
22 Dec 2007, 06:48 PM
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thanks randy for clearing that up.
my next question is, given there are only 13 splits that are under 100k (12 @ 50k and 1 @ 40k -- 10 MLB and 3 NHL) currently active (unless I'm missing someone) wouldn't it just be easier to either reverse those splits or simply up the daily max of those 12 to 100k as well? I'm not sure how the programming works but it seems like that would be easier for all parties rather than try to remember who you can buy what max for.
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True patriotism hates injustice in its own land more than anywhere else. - Clarence Darrow Widespread intellectual and moral docility may be convenient for leaders in the short term, but it is suicidal for nations in the long term. One of the criteria for national leadership should therefore be a talent for understanding, encouraging, and making constructive use of vigorous criticism. - Carl Sagan
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#49
22 Dec 2007, 07:43 PM
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Actually, my thought has been........if it is currently allowable to be holding over 10k shares of a stock (in other words, if the stock has split at least once and not, in the past, had that split reversed), we'd allow you to daytrade up to 100k shares.
Splits currently UNDER 100k shares? 2 choices...the easy one being, we change their max shares TO 100k, simply adding them to the list of stocks you could daytrade 100k shares of....OR, we resplit those stocks to 100k shares prior to the change and allow you to daytrade up to 100k shares. I have NO intention of having confusing max shares- it's either 10k or 100k...period. Stocks with a max share OVER 100k? Well, their max would STILL be set at 100k...which means you COULD still opt to daytrade 100k shares......your choice on whether you'd do that over holding 1mil shares.
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#50
22 Dec 2007, 08:02 PM
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and just when i thought i had everything figured out......
so the situation with splits is going to change? currently we can not sell partial stocks (i.e., 10k shares) and buy them back if the total will exceed 10k. are you saying that we can day trade 100k even if we still hold 900k?
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True patriotism hates injustice in its own land more than anywhere else. - Clarence Darrow Widespread intellectual and moral docility may be convenient for leaders in the short term, but it is suicidal for nations in the long term. One of the criteria for national leadership should therefore be a talent for understanding, encouraging, and making constructive use of vigorous criticism. - Carl Sagan
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#51
22 Dec 2007, 08:11 PM
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Quote:
Example: You're holding 1mil shares of a stock. If you sold 900k, you couldn't rebuy ANY shares because you're already holding 100k. But if you sold 1mil shares, you'd be able to rebuy 100k shares. Stocks that have not split would be unchanged...10k max.
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#52
22 Dec 2007, 08:20 PM
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If you are currently holding LESS than 100k of a split, you would be allowed to buy whatever shares short of 100k....up to a holding of 100k total.
....just like happens at every amnesty Look at this as an amnesty that doesn't end.....don't have a split or don't have 100k of it? The system will let you buy. Wanna sell it to not be hit with a neg? No problem...since this would continue, you could sell your 100k shares today and rebuy it tomorrow.
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#53
22 Dec 2007, 08:25 PM
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Quote:
__________________
True patriotism hates injustice in its own land more than anywhere else. - Clarence Darrow Widespread intellectual and moral docility may be convenient for leaders in the short term, but it is suicidal for nations in the long term. One of the criteria for national leadership should therefore be a talent for understanding, encouraging, and making constructive use of vigorous criticism. - Carl Sagan
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