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#2,601
Muskol said:
My understanding is that the 3 day settlement also applies to when you buy. So if you sell on Monday you can buy on Tuesday - the sale cash will settle on Thursday and the buy will settle Friday and you're good...
Click to expand...

I don't know what you are trying to say, but this is how it works:

If you buy something on Monday, the cash will not settle until Thursday. So you cannot sell until Thursday or you will incur a "good faith violation". If you do this 3 times over a 12 month period then you will not be able to buy stocks with unsettled funds.

So normally when you sell something on Monday, you can use that cash to buy stocks right away. But now that you are restricted to using settled cash only for purchases, you cannot buy stocks until Thursday.

So if you have three of these violations in a 12 month period then you are restricted to buying only with cash settled funds. Going to your example you will not be able to buy on Tuesday. You have to wait to Thursday to make a purchase. But since you bought with cash settled funds, you can sell this stock right away (but then will have to wait 3 days before buying something again).
 
#2,602
sleepyhead said:
That is funny because it happened to me in the beginning of the year. I didn't know about that rule in one of my accounts, so I was buying SPWR in the morning to scalp a few dollars and then would sell at the end of the day. My account got restricted for 90 days to trade only on settled cash. This is very annoying, because if you sell anything on Monday, you can't buy with that cash until Thursday.

Now that I was aware of the rule, I tried not to sell my stocks that I bought within the past three days. Even though I tried, I somehow failed and once again found out that I made 3 separate sales (over the past few months) before the cash settled for the purchase. I am now once again in the 90 day restriction period. This turned out to be somewhat of a blessing in disguise this time around since the stocks I wanted to purchase got cheaper. But it is still very annoying and hard to trade with this restriction in place.
Click to expand...

Well, I'm in good company, at least! Did you know if you call in you can get a 1-time reversal of the restriction per account?
 
#2,603
sleepyhead said:
I am now once again in the 90 day restriction period. This turned out to be somewhat of a blessing in disguise this time around since the stocks I wanted to purchase got cheaper. But it is still very annoying and hard to trade with this restriction in place.
Click to expand...

I, too, am on 90 day restriction. I thought I was the only "idiot", I feel somewhat relieved to be in good company. One more point, if you put yourself into a restriction process, you have 3 or 5 days to wire the funds to cover the unsettled funds, this will save the restriction from going into effect. I have had to do this before, but I finally ran out of funds to wire.
 
#2,606
sleepyhead said:
I don't know what you are trying to say, but this is how it works:

If you buy something on Monday, the cash will not settle until Thursday. So you cannot sell until Thursday or you will incur a "good faith violation". If you do this 3 times over a 12 month period then you will not be able to buy stocks with unsettled funds.

So normally when you sell something on Monday, you can use that cash to buy stocks right away. But now that you are restricted to using settled cash only for purchases, you cannot buy stocks until Thursday.

So if you have three of these violations in a 12 month period then you are restricted to buying only with cash settled funds. Going to your example you will not be able to buy on Tuesday. You have to wait to Thursday to make a purchase. But since you bought with cash settled funds, you can sell this stock right away (but then will have to wait 3 days before buying something again).
Click to expand...

I think the detail missing in your first example quoted above is that the Good Faith Violation occurs if your Monday buy was purchased with UNSETTLED funds from a previous sale, AND you then proceed to sell your Monday buy before that previous sale that funded your Monday buy has settled.

You won't incur the Good Faith Violation if your Monday buy was with settled funs.

My original example won't be a violation, unless of course you are already restricted for other GFV.

We may be saying the same thing here, just wanted to try and clarify my original response.
 
#2,607
sub said:
Two words - Margin Account. Problem solved. I don't trade on margin but it's nice to have no restrictions on trading. However, if solar keeps heading south I won't have enough money/value to qualify for margin!
Click to expand...

This is my 401k, so no margin allowed. It was already hard enough to lobby the employer to include individual brokerage accounts as an option for 401k, so margin and options are not going to happen.
 
#2,609
sleepyhead said:
This is my 401k, so no margin allowed. It was already hard enough to lobby the employer to include individual brokerage accounts as an option for 401k, so margin and options are not going to happen.
Click to expand...

I realized this possibility after I posted. How about, if Margin is available in your acct setup it's the best way to get past this 3 day rule. CSIQ looking better today since my last post.
 
#2,611
borat99 said:
How were you able to convince your company to do that? My previous employer had a brokerage option but my current one doesn't.
Click to expand...

This is a difficult 'sell' to an employer. I am the trustee of my company's 401K plan. My fiduciary responsibility really limits what I can safely (legally speaking) offer as investment types.
I used to have a platform for the 401K that allowed each individual total freedom of choice. Anything went..margin,etc. However, my accountant pointed out to me that I could be personally liable if someone did someything stupid with their money...like losing it all with dumb investments...and the DOL would side on the staff member trying to sue me for not putting what the DOL considers reasonably safe limits on the investment choices. So, all the monies are on a boring platform with lots of index and 'age appropriate' balanced funds.
 
#2,612
Larger than usual volume today. A sharp down spike in the morning that moves about 5%. No real bad news. All looking good for SPWR having a capitulation bottom. If the market moves up and we don't see SPWR collapse through the rest of the day, I think 27.15 was it.
 
#2,613
mershaw2001 said:
Larger than usual volume today. A sharp down spike in the morning that moves about 5%. No real bad news. All looking good for SPWR having a capitulation bottom. If the market moves up and we don't see SPWR collapse through the rest of the day, I think 27.15 was it.
Click to expand...

Yep. Looks like it held pretty well as the market fell off. I agree looks like a typical capitulation
 
#2,614
It looks like spwr got a nice upgrade. I didn't see when this upgrade came out, but mid day it was running up from 28 to 28.60+ pretty rapidly.


SunPower price target raised to $39 from $32 at Citigroup
Citigroup raised its price target for SunPower to $39 after meeting with management and reiterates a Buy rating on the stock. Citi says SunPower's strength in the Japan continues above its expectations.
I added another 200 shares at 27.70. I didn't really see myself buying a position in this company but if it's got the best panels, it's got sufficient demand, and it's pulled back from 34 to 27 it looks like a good buy-for-the-hard-reversal play.
 
#2,616
Does anybody have predictions on the new Sunpower factory which will likely be announced in 2014?

Any guesses or predictions on capacity, cost, what country it will be in.. That would be very helpful to me. Aside from great sales growth, which I expect all solar's to have in 2014, I think SPWR has a great catalyst of the new factory announcementThat combined with longterm sales pipeline will pull Sunpower up, and help differentiate them as one of the true leaders of solar.

Thoughts?
 
#2,617
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