My brokerage firm has just informed me that under a new SEC ruling effective on 18 May, funds from the sale of securities considered as short sales, or held for a limited amount of time, cannot be used for another securities purchase until that sale has âclearedâ which takes three days. What do you think about that?
Thats the news out. Its ridiculous IMHO. Thats why i don't touch equities anymore. Its becoming a joke.
The SEC is always trying to help us little guys by f***ing us over. pass the KY and grab your ankles!!!