Redback Networks, Inc. (RBAK) Message Board

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Technology Stocks : Redback Networks, Inc. (RBAK)

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To: Daniel King who wrote (787)	8/13/1999 3:25:00 PM
From: Don Pueblo	of 1956

The rules changed a few months ago. If your clearing firm has shares of the IPO to loan, (meaning they have it on 70% margin; not the usual 50%, so you pay 70% of the price of the stock) you can short an IPO. You MUST have the shares available to short. I called my clearing firm about this, and several people who were Series 7 licensed DID NOT know about the rule change. You can short an IPO on Day 2 IF IF IF the firm has the shares to loan you, and MAKE SURE you find out what the margin percentage is BEFORE you pull the trigger.

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