As a result of recent market volatility, please be advised that IB is increasing the margin rates on low capitalization stocks (currently defined as companies with less than $250 million in market capitalization). The margin increases will occur in three steps beginning on Wednesday, September 21, 2011 and ending on Friday, September 23, 2011. The margin rates will increase to 50%, 75% and 100% at the open of business on 9/21/2011, 9/22/2011 and 9/23/2011, respectively.
May have an effect on certain stocks this week
Also read somewhere that more Obama job details are due tonight. Maybe some details on Buffetts proposed millionaires tax (why didn't the FHFA go after Wachovia?) which probably won't get passed. If it does, could be bad for the market as millionaires/billionaires lock in lower tax rates before the change.
