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Pastimes : Ask da_cheif

MVIS 0.914

-3.0%

Nov 13 3:59 PM EST

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To: da_cheif™ who wrote (4998)	9/12/2001 10:01:43 AM
From: Vitalsigns	Read Replies (3) of 8150

Chief , Got this message on Schwab Today : Schwab Canada Important Note: Due to the extraordinary tragedy in the United States, market opening will be delayed. Once open, extreme volatility is expected on all exchanges. Please be prepared for delays in order execution and fill reporting, when trading resumes and continuing until normal markets can be re-established. Charles Schwab Canada will be posting market updates on our website as we receive them from all exchanges. Effective immediately and until further notice the granting of new margin facilities, including all securities lending, is suspended. Until further notice new accounts will be opened as cash accounts only and short sales and uncovered option trades are prohibitted. My understanding is that Schwab will not be the only ones doing this . Japan and Europe have inititated the same procedure (No Shorts and no uncovered Puts) last night and I fully expect this policy to be in effect accross the board in the US and Canada when markets re-open. They will probably pump about $ 100 billion into the markets, Cut rates and the major firms will have been givin the go ahead to buy . Add that to limited shorts and puts , and we have the makings of a Short Squeeze after the markets fall and catch up to the overseas trading prices of Us stocks. Right now MSFT is priced at 52.30 euros or $48.11 Us , but today they are not alowed to trade any US stocks or Bonds until further notice, So we have to wait until US open to see where we stand. Should be a very very volatile few days IMO Looks like your scenario could play itself out by encouraging the buy side and limiting the sell side. Edit. My thoughts and prayers go out to all the victims affected by this henious crime commited to the people of the UNited states. May God be with you.

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