Play2 win - the trading you describe sounds like margin lending but not quite - hence the short term hold you are limited to.
Maybe my broker does do it but I haven't looked into it (or margin lending). I'm too conservative for that - or the rolling pin hurts too much. So, the way I understand it, if your you cannot cover a loss with cash you have to sell other shares?. That would drive me nuts, so I can understand your caution in being cashed up.
As for the other point I don't mean trading out of hours, as such, just joining in the pre and post auction. I was with etrade, but I couldn't justify the extra cost of an account to participate. With NAB it is more to my style, and pocket:>))
MEO Price at posting:
43.0¢ Sentiment: LT Buy Disclosure: Held