So I learned that I may transfer/rollover money in a 401(k)(no longer employed) to an IRA account with a broker lets say.

To clarify:
1) I can trade in that account, selling and buying equities, using the Foolish Four, or index funds and I accrue no short-term capital gains or regular capital gains tax no matter how many times I trade in a year?
The tax is only paid on collection at retirement age?
Basically, by doing this you can avoid short-term capital gains? Also, when you finally begin collecting how is the tax calculated regarding the microsoft you
bought and sold in one month's time 35 years ago? Is it all taxed at one rate at retirement regardless of how long you held the equity?

2)I have two 401(k)'s. one with company A which I have not worked for for 2 years and the other with my present employer. Since I never moved/touched the original 401(K) can I roll/transfer it over into an IRA at anytime. I know there is a 60 day rollover grace one you commit to the rollover...but is there one for actually choosing to do a transfer/rollover?

3) I assume since most people choose pre-tax contributions for their 401(k) through their employer that you CANNOT, after no longer being employed, rollover/transfer pre-tax 401(k) money into a Roth IRA, Correct? I assume a pre-tax 401(k) account MUST be rolled/transfered over into a traditional IRA???

Thanks very much.

P.S Does anyone know if this motley fool tax guide deals with specific questions like this or is it more legalese (sp?). Too many books are written with no real-world situations, especially tax ones.

I choose