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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Melissa McAuliffe who wrote (1027)5/16/1998 7:44:00 AM
From: steve goldman   of 2120
 

Melissa, definately, some firms have safeguards to prevent such mistakes. Nonetheless, this comes at the expense of slower executions and perhaps missing a trade. What about technical shorting, that is you own abcd at firm a, initate a transfer to firm b, because you want firm b to sell it. Firm b locks it in on ACAT system yet its not physically there for 2,3 more days. You should be able to sell it.

What about the situation where you have physical certs at home, those shares of DIS mom and pop gave you when you were 8.

The point is, regardless of whether you firm has such safeguards, whether they are to your benefit, whether you feel they restrict you, you are still responsible for getting a confirm on the 'out'.
-Steve@yamner.com
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