DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Eric P who started this subject	6/30/2000 8:45:43 AM
From: exdaytrader76	Read Replies (1) of 18137

Forward conversions for down tick shorts? I was just talking to the other local EDAT firm, and the mgr told me that they used option positions called forward conversions so that their traders could sell short on a down tick certain stocks in which they had established the option position. How many times have I wanted to get short but missed the up tick? Or better yet, ISLD or MWSE comes in to lock the market with their bid on an up tick and then leaves, turning the uptick into a downtick (at least on Real Tick), and I can't short it. I realize that the best traders short into the bounces and maybe would never need to short on a down tick, but hell, I'm not that good yet, and I'd like any advantage that I can get. Lately, I've been joking that "we've gotta get this uptick rule changed." But ironically, it looks like this other firm has effectively done just that. This really seems like a tremendous advantage to me. Maybe LPS5 or someone can give us a better explanation of forward conversions, and Eric can add it to the thread summary.

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