I have a retirement account with Fidelity.
I bought stock just before market close yesterday.
This morning I sold all that stock 45 mins after the market opened.
The purchase from yesterday hadn’t settled yet. I got a “you may be violating the good faith” message.
I have a lot of $ sitting in SPAXX. Does that count as cash in the account, or am I technically in violation? At no time could my account have gone into a negative balance as my SPAXX (which it refers to as cash available for use) balance is more than what I purchased (ex: I bought 40k in a certain stock and ignoring all other funds in the acct, the remaining balance of SPAXX (after the 40k I spent) was more than 40k.
Can anyone shed more light on this?
Leave a Reply