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#1
26th September 2006, 09:50 AM
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Selling before securities are received.
How can I sell shares before they are deposited into my account. Suppose I buy 100 shares of Polaris on Monday expecting the price to go up. Under the current system, my broker will receive the securites on T+2 (Wednesay) - he will typically not transfer them to my account till Thursday. Thus, I can only sell them on Thursday - if by that time the share has gone down - I am at a loss.
I am sure that there is some way that I am missing. I am sure that many buy shares with the intent of selling them within a day or two. Is this facility dependant on the broker? Any help would be greatly appreciated. gatul 
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