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Non-Tech : Waterhouse Securities
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To: upanddown who wrote (635)7/31/1998 4:52:00 PM
From: richard   of 2076
 
Dear John, Patriot has it well put . The only thing I can add is that it is just the reverse of long trading and if you are shorting some big cap stock there shouldn't be a problem w/ getting shares to short . I would add it is just the reverse of going long in a margin account ,because in a margin acct. a person allows Waterhouse to use their shares for someone else to use( you can also borrow in effect money to buy more shares of a particular stock by using your stock as collateral and then you pay the interest) . So you sell short at the bid. Look at any shortable stock the bid is what you get . So then after the stock goes up or down whichever . You buy back at the ask price, called buy to cover . ( to reverse the sell which you did earlier)The difference is the profit or loss . Then the stock can go back in the other persons acct.from which they borrowed they actually borrowed the stock for you to sell . I don't know alot of the acct. details , sorry :) but best of luck in your trading. Remember do you own homework .
Yours Truly, richard
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