manipulation, page-27

Hi iam

About the 'having to sell'- depending on your holdings you have a credit limit. If I bought them with my own money i can do as I please, sell them on the spot or keep them for ever etc. At the same time I would have to settle the buy T+3.

Example(for credit)- say I had $500k of stock fully paid for, I could go and buy say,200k of stock and sell it for say,210k. As long as the deal is completed by the close of trade the following day at the latest the deal cancels itself. You keep the 10k(minus brokerage). But if you bought on a Monday and sold Wed you would have to put the 200k in your account.Of course , if you sell for a loss you still owe the loss amount. I have only done this 3 times in 6 months and it has back fired twice. I do not recommend it unless you have funds to cover a potential loss. It also puts you under pressure. Lucky the gains over all do cover the losses.
If you do not have the cash do not buy the stock- that is my stead fast rule for now on!

As for Apostle, yes, he would have to sell Monday to get money Thursday. But, Commsec 'technical' rule is- T+3 available next business day, but I have always received on time,mind you, time of deposit during the day can vary.

Buy out side of hours,I like the sound of that. I know brokerage firms can do it but I do not think Commsec does. Who else is with a trading house online that allows it???