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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Melissa McAuliffe who wrote (1130)6/19/1998 10:54:00 AM
From: Nemer  Read Replies (3) of 2120
 
Melissa:

I offer this only as a possible suggestion because the situation changes from broker to broker, whether they be phone, online, or a combo -----
but this is what I do to hasten the transaction when I start a short sale ------
btw,
I only short listed equities, not NAZ, but that's another topic which would necessitate a longer post .

When you feel a potential short situation arising ----

call ahead to arrange a "layaway" of the particular equity.

there is no obligation to use this reserved position (indeed, you will be given a reservation number similar to a confirmation number) which is good for a trading day.

this will eliminate the need for the brokerage house to seek out the required stock certs at the
immediate time
of your proposed short sale and enable you to short sell them faster.

As I said, this is what I do, but comments or observations are welcome.

Regards --- Nemer

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