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Your Mutual Fund Orders on 11/11/24

yogibearbullyogibearbull
edited November 12 in Fund Discussions
Don't bother calling if some of your mutual fund orders didn't go through yesterday, Veteran's Day, 11/11/24.

The bond market was closed, so m-mkt and bond mutual fund orders will be pending; some other mutual fund orders may be pending too.

If you bought something by covering from m-mkt fund, T+1 won't work and you may be charged 1-day margin.

Comments

  • stayCalm
    edited November 12
    Yep. I called earlier today and Schwab is going to stick me with margin on my 11/11 trades. This is the cheap nickel and diming which I really detest.

    I would have pulled the plug on Schwab and decamped to Fidelity years back if I could do so.
  • BaluBalu
    So, were Fidelity MM trading yesterday?
  • stayCalm
    Pure speculation on my part but I do not believe Fidelity would have hit me with margin for any equity trades made yesterday.
  • BaluBalu
    edited November 12
    stayCalm said:

    Pure speculation on my part but I do not believe Fidelity would have hit me with margin for any equity trades made yesterday.

    If non-sweep Fidelity MM are not trading yesterday and if you did not have money in the sweep to cover your trade, then I expect Fidelity to charge margin interest. Not every Fidelity MM is eligible to be designated as a sweep.
  • stayCalm
    edited November 12
    All of my Fidelity MM funds are sweep (I have at least two and maybe three Fidelity MM).
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