Selling then rebuying

If I sold my shares today I get the money in t3. But can I still buy other shares with the shares that I sold and the new shares will be settled in 3 days?

ie I sell all my wpl shares for 25k. then I immediately buy other shares for 25k.
is this possible? I am using commsec. Then after 3 days I get the 25k for selling my wpl shares and then commsec will take out the 25k for the new shares that I have bought.

eg.

Sell WPL for $25,000, less $29.95 brokerage = $24,970.05 credit to you
Buy XYZ for $25,000 plus $29.95 brokerage = $25,029.95 debit to you
On settlement day your account will be debited for $59.90.

Another example:

Sell WPL for $25,000, less $29.95 brokerage = $24,970.05 credit to you
Buy XYZ for $24,000 plus 29.95 brokerage = $24,029.95 debit to you
On settlement day your account will be credited with $940.10

It all works like a big credit card. You just need to ensure you have sufficient funds in your account to cover any net debit that will apply to you on settlement day. Read the terms and conditions for Comsec. There is a chart in it that explains how buying and selling during the 3 days will result in different settlement outcomes.

Actually all i wanted to know was do i get access to my funds immediately to rebuy shares. If i sell my wpl shares settlement is 3 days. Do i have to wait 3 days before i can rebuy shares or do i get access to it immediately after i sell my shares. I want to sell my shares today and rebuy today or tomorrow. I know with ST George's directshares you can do this but i am not sure with commsec and can not find anyting on their site.

As soon as you sell, you are credited that amount and can buy more shares.
But if you want the cash itself you have to wait till settlement.

I was told by Commsec phone support that if you buy and sell within a one day period, they will simply debit or credit you the difference of the trade.

ie, you sell shares worth 25k on monday morning, and buy 10k worth of shares on monday arvo, they will credit your account with 15k on thursday.

However, as you have the T3 terms, you don't have to have any money in your trading account untill settlement, so you could buy on Monday, put money in one Wednesday, and it will settle Thursday.

Also, if you had no cash in the trade account, you could buy on Monday, sell on Monday arvo for a $500 profit, and you will simply get credited with your profit on Thursday (minus trading fees, which are $19.95 for online trade).

So I guess you can consider it a line of credit.

Can someone please correct me if I have made any errors. I'm going by how Commsec has worked for me over the past.