Americans 4 "No Own - No Sell" Message Board

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Strategies & Market Trends : Americans 4 "No Own - No Sell"

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To: Ga Bard who wrote (14)	10/1/2001 10:15:22 AM
From: Moominoid	Read Replies (1) of 455

While I disagree with the general drift of your thread - that short-selling is bad - I just will note that here in Australia, I need to fax soem documentation backwards and forwards to get a number that authorizes a short-sale on a specific stock. Minimum amount that can be shorted is $A50k. My lender is the only retail margin lender allowing short-selling. You can't do margin trades or short-selling online. So far I haven't done a short-sale here (but I have in the US). I think this is all unfair as the big boyz can short to their hearts content without any restrictions or difficulties. Options trading is very popular here. It is easy to both buy and sell options in small amounts. There are also warrants which are options issued by banks and traded on the main ASX exchange (instead of the options clearing system). To sell naked options all you need to do is put down c. 30% margin of the contract value and fill in some forms saying you know what you are doing. You only need to sell one contract. This seems to be a lot harder in the US and shorting a lot easier. I don't know why this is. David

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