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Non-Tech : Waterhouse Securities
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To: brian h who wrote (290)2/14/1998 10:59:00 AM
From: Brooks Jackson  Read Replies (2) of 2076
 
All: Pls share experience re: short sales & Q98

I am considering moving to Waterhouse from e.Schwab because Schwab has too often failed to execute short sales due to no shares to short, stock "not marginable" or no reason at all.

Questions:

1. How often does Waterhouse have "no shares to short?"
2. How often does Waterhouse declare a stock not marginable (and therefore not short-able)? The policy at Schwab is that a stock not only must be trading at $5 or more, but must have done so for a "significant" period of time, roughly 30 days. Also, they just refused to short WDRY -- a stock selling at the time for about $25. It dropped 10% the next day, and I missed a nice profit opportunity.
3. How is the Quicken98 support? An earlier poster said it was working fine -- is that the consensus?
4. Earlier posters noted the need to call Waterhouse when covering a short sale with a "buy" order. Can this also be done by e-mail?

Thanks for sharing your experience. This is what makes SI great.
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