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Strategies & Market Trends : The Options Box
QQQ 627.17+0.1%Jan 12 4:00 PM EST
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To: Poet who wrote (938)5/30/2000 4:38:00 PM
From: Mark Z  Read Replies (2) of 10876
 
No problem. I have an account with a 'direct order entry' broker (CyberCorp) which makes shorting a lot easier. With a traditional broker, it takes them awhile to find shares and then place your order. With DOE brokers, they have a short list 'automated' so your order goes in right away if there are shares available. In general, though, I go with puts (about 75% of my short trades are puts rather than shorting stock) simply because of leverage/$$$ invested, the ease of getting filled and the availability of shares to short. God...last month when PIXR was hovering at 40 I wanted to short it so bad but none of my brokers could find shares. So sometimes one has to go to puts. One rule: ALWAYS use limit orders because you never know when the next uptick will occur and it could be well below where the current market is.

I got lucky. A few years back my first short was UAL when it was over 100 (I happened to be working for them as a contractor at the time...my last job!). It went down to 60 in a few months. That erased any fear I had of shorting.

BTW, 2 things I've learned on SI: If Don gets bullish, throw all your money in the market. If Uncle Ike (Iqbal Latif) gets bearish, run for cover!
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