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Strategies & Market Trends : The picks
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To: J Curshen who wrote (6058)7/31/1997 3:01:00 PM
From: Steve Robinett   of 6124
 
J. You're right. I take it all back. I checked with a couple of brokers and the no-short-under-$5 is a brokerage house rule not an exchange rule. MOST brokerages have that rule, but not all and, if you twist a few arms, not for all customers.
Sorry,
Steve
P.S. Short Question #2: Can there be more shares short in a given stock than there are in the float? E.g., "A" has 100 shares long in a margin account. "B" borrows the shares and sells short to "C" who now has 100 shares long with "B" then borrows to short a second 100 shares. As far as brokerage house records go there are 200 long and 200 short shares but in fact it was done with only 100 shares.
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