$3.00 is the cut off for Margin accounts

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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TooHotToHandle

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$3.00 is the cut off for Margin accounts

posted on Jul 16, 2008 10:49AM

It looks like I got the answer I was looking for this morning. As soon as the stock closed at $3 I had all this available margin to play with.

I guess this is one main reason that NOt got hammered well below $3 as all margin calls came into play once the price dipped below $3 last week. Add the pressure of the shorts and $2.12 was the end result.

This should serve as a big lesson. Watch out for margin accounts especially when your stock is hovering around that $3 range. You can be forced to sell at a time when it makes sense to be buying.

Our time will come when we wake up in the morning and we are sitting at double digits.