HI ROSCOE,

As for your questions.

If you bought the stock this morning, you can turn around and sell it minutes later. The settlement date gives you time to get the funds in your account to cover the trade at some institutions. The main thing is I guess, that you want to know, that those shares can be sold minutes after you buy them if you wish, if not make sure you have funds to cover them before the settlement date, or your financial institution may decide to sell them on you.

hope this helps