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Strategies & Market Trends : Roger's 1997 Short Picks

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To: McNabb Brothers who wrote (8797)12/23/1997 6:19:00 PM
From: Jon Tara  Read Replies (1) of 9285
 
Hank, I tried to short AOL again today. I'm afraid I am going to need another broker to be able to short it. I had no luck with Datek again. There was no excuse this morning, with upticks all over the place. Datek was accepting my orders and showing them as active, but was not representing them to the market. The offer was shown above my offer repeatedly.

I tried again this afternoon, but I was at working and basically shooting blind, as Datek's NYSE quotes don't have a tick indicator. (At home, I use Townsend Analytics for streaming quotes, and they have a tick indicator of course.)

I should have had AOL short at 90 or higher this morning.

Datek does work out well for shorting NASDAQ stocks, as you can use their high success rate at spliting the spread in combination with the rule that lets you short at any time if your limit is above the bid.
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