Eric, a couple of things:
1. first, you cannot short using SOES. Do so and your broker will lose his liscense, the firm fined big time and SEC will disavow your trade and probably fine you as well. The SEC is a tough group.
2.Usually, selling on offer almost assures you of a uptick,but lets say this happens.
Stock is 10 1/8 x 10 1/4...printing at 10 1/4, then 10 1/8, 1/8, 1/8, 1/8...all donwticks...now stock falls to 10 x 10 1/8...still printing at 1/8, 1/8, 1/8 1/8...the 1/8 is still a downtick if it hadnt; printed at 10. As soon as it prints at 10, then 10 1/8, 1/8/ 1/8, the 1/8 is an tuptick.
Do not use SOES to short a stock. The NASD's audit system is not that great if barely existent, but they will find you out.
Regards,
Steve@yamner.com |
