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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.10+2.5%Nov 24 3:59 PM EST

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To: Bill Harmond who wrote (101122)4/16/2000 1:40:00 PM
From: Mama Bear  Read Replies (1) of 164684
 
"From what I can find out, the Merrill HOLDRS and the QQQ's can be shorted without an uptick, unlike their underlying stocks which must be. IF those derivatives are not subject to the uptick rule then that can explain some of the visciousness of the sector's decline and we're in for a helluva rally at some point. "

You are correct that no uptick is required on HOLDRs or QQQs. I'm not sure why you think that would make the underlying securities fluctuate in price though. The underlying are held in trust in depository vaults, and there is no corresponding selling of these securities because someone went short. I doubt that the tail is wagging the dog.

Regards,

Barb
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