NYSE doubles daytraders ability to buy with borrowed money

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Let's put a little more air in this baby! Cheers, AGF

The New York Stock Exchange has voted to increase the amount of money that day traders can borrow to buy stocks, despite worries by regulators that excessive borrowing has contributed to the steep losses of some of those investors, sources said. The exchange's governing board voted Nov. 4 to allow "qualified" day traders to borrow up to four times the amount of money in their accounts for intraday trading, the sources said. The NYSE now limits day traders' borrowing to twice the equity in an account, and accounts still could not exceed that level at the end of the trading day.


-- drac (greenspanisgod@frb.giov), November 20, 1999


For the spot price of gold:
http://www.kitco.com/gold. graph.html

For the spot price of silver:
http://www.kitco.com/sil ver.graph.html

For the spot price of platinum:
http://www.kitco.com/p latinum.graph.html

For U.S. Markets and stock quotes:

For Major World Indices:

Stan Faryna

Got 14 days of preps? If not, get started now. Click here.

Click here and check out the TB2000 preparation forum.

-- Stan Faryna (faryna@groupmail.com), November 20, 1999.

anyone been watching the PBS "New York"? I saw the segment which included the Crash of 29 & was shaking my head at how similar our present situation re Markets is to then.

-- Mitchell Barnes (spanda@inreach.com), November 20, 1999.

Brilliant move, NYSE. If things start skidding, look for more incidents like that day-trader in Atlanta who "went postal." (And my apologies to USPS employees, all of whom I've met were very nice and helpful. I just can't think of a corresponding term for soon-to-be-homicidal day-traders...)

-- I'm Here, I'm There (I'm Everywhere@so.beware), November 20, 1999.


-- Chuck, a night driver (rienzoo@en.com), November 20, 1999.

I'm Here, I'm There;

The phrase you are trying to think of is "going NASDAQ."

-- Not Whistlin' Dixie (not_whistlin_dixie@yahoo.com), November 20, 1999.

For the spot price of tulip bulbs....... www.suckerborneveryminute.com

-- JB (noway@jose.com), November 20, 1999.

And the question for $200.00, How can we possibly pump more air into this bubble?

-- squid (Itsdark@down.here), November 20, 1999.

"Going NASDAQ." I like it.

It just amazes me. Greenspan and The Fed (on RCA Records and tapes) raise the rate .25% (less than the minimum of .5% they should have done if they were SERIOUS about it, but at least it WAS raised -- even if it was just a little gurrrly-man raise with a neutral bias). This, to slow down the bubble. Then the NYSE says, "No problem. We're gonna let you marginalize even MORE now!" This, to blow more air IN the bubble. It's gonna make a lovely POP! when it goes, Y2k or not.

At least if I were sitting at a Blackjack table in Vegas, I'd get a free drink or two out of it. Right now, I'd say the best investment for day-traders might be a bulletproof vest and a couple cases of Prozac.

-- I'm Here, I'm There (I'm Everywhere@so.beware), November 20, 1999.

I guess the intra-day swings weren't wide and erratic enough yet.

-- Nathan (nospam@all.com), November 21, 1999.

They want to be able to fleece them faster. The really big boys are regular conspiritors when it comes to squeezing the short sellers. Right now there is a massive one happening.

-- billburke (bburke @rocketmail.com), November 21, 1999.

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