Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: farmersue who wrote (2350)	6/19/2001 10:04:38 AM
From: Kirk Messmer	Read Replies (1) of 6873

farmersue, I have used at least two brokers who have allowed me to short stocks under $5: Trutrade (you don't want to know) and CSFBdirect. In both cases one can short stocks under $5, even though not marginable, BUT because it's not marginable one must maintain account equity of $5 per share. This can tie up more capital than you want on a cheap stock. Trutrade clears through U.S. Clearing (i.e., Fleet) and I believe the policy on shorting is set by the clearing firm, not the brokerage firm. If true, then Suretrade and Quick & Reilly, whicgh are both Fleet subsidiaries and clear through U.S. Clearing, would allow you to short under $5. I've had pretty good success borrowing shares at CSFB, not bad at Trutrade/Fleet.

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