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Subject:  Re: New margin rules explained Date:  6/27/2001  3:31 PM
Author:  sonar69 Number:  6195 of 36748

Define for the first time who is considered a "day trader"

Under the rule changes, a "pattern day trader" is a customer who day trades four or more times in five business days, and such activity is more than six percent of that customer's total trading activity for the five-day period.


Does a "day trade" mean buy & sell or short and cover the same stock in the same day?
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