I am on fidelity, looking to buy something that I can sell in 2 days, what should I get
8/14/2024 09:37pm
Given your intent to sell the investment within two days, it is unlikely that you will be able to achieve your goal with Fidelity's current securities settlement cycle, which is set to T+2 (trading day plus two business days). On May 28, 2024, the settlement cycle will change to T+1 (trading day plus one business day) for most U.S. securities trades. However, even with the T+1 settlement, it is typically not advisable to purchase an investment with the intention of selling it within a few days.
1. **Consider the T+1 Settlement**: The upcoming change to T+1 settlement may offer a quicker turnaround for trades, but it still may not align with your intent to sell within two days.
2. **Evaluate Investment Strategy**: It is important to align your investment strategy with your financial goals and risk tolerance. If your goal is to sell an investment within a short timeframe, you may want to consider other investment options that allow for quick trading, such as day trading or short-term trading.
3. **Explore Day Trading**: Day trading involves buying and selling securities within the same trading day, which might align better with your requirement. However, be aware that day trading can be riskier and may not be suitable for everyone.
4. **Understand the Risks**: Short-term trading, including day trading, carries higher transaction costs, such as commissions and fees, which can eat into your returns. Additionally, it exposes you to market volatility, which can lead to significant losses.
5. **Consult with Fidelity**: Reach out to Fidelity for guidance on their specific securities and their suitability for your trading goals. They may offer products or services tailored to your needs, such as cash management accounts or short-term investment options.
In conclusion, while the T+1 settlement may offer a quicker turnaround for trades, it may not be sufficient for your goal of selling an investment within two days. It is essential to align your investment strategy with your financial objectives and risk tolerance, and to consult with Fidelity for their recommendations on suitable investments for your specific needs.