Hopefully, someone can help me with a quick question on settlement dates. If I buy a stock on lets say 1/1 and sell it 2/1. Can I use my sale proceeds right away to buy another stock as long as i do not sell that security before the settlement period of the other stock clears,so in this case I would buy a new stock on 2/1 and not sell to 3/1. Will I be ok or do I need to wait 3 days after my first sale on 2/1 which would be 2/4 to buy another security?? any help would be appreciated. thnaks
Is settlement on the opening morning or after close do you know? For example I sell stock XYZ on 1-3 and settlement is 1-6. Are the funds available at open on 1-6 or not till 1-7 open. thanks again to anyone on this matter.