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There it goes again. Sharp fall during the auction and most of...

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dougfr

1,095 Posts.

174

01/03/16

16:20

Post #: 17157240
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Originally posted by peteraw ↑

I have an opinion and my opinion only on this. Some on line brokers provide Credit on trading accounts and providing that you sell shares within T + 3 from purchase you are not required to have the funds in your account at time of purchase. eg. purchase 100,000 BUD @ .12c expecting a quick gain of say .01 to .02c within 3 days. The shares don't move and the anxious trader is waiting to the last minute on the third day looking for that buyer wanting in. In desperation he has to sell at whatever the offer is in the CSPA because he doesn't have the funds available to cover the purchase, or not prepared to hold.

It's madness but I've seen it happen. The coming transformation to T + 2 may alleviate some of this type of trading. IMO only.

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There it goes again. Sharp fall during the auction and most of the day's gains are lost.

BUD Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
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