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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Steven Ivanyi who wrote (1147)6/20/1998 4:49:00 PM
From: Cash  Read Replies (3) of 2120
 
>To short a stock on Nasdaq you must have an uptick sale< I don't think so. I thought it was that to short a stock on NASDAQ you need an uptick BID. To short a stock on NYSE you need an uptick SALE.

So on NASDAQ if a stock is 10 1/8 x 10 1/4 and then the inside quote goes to 10 x 10 1/4, you can't short until the bid goes above 10 because the bid downticked. If stock sells for 10 1/16, then 10 1/8, then 10 3/16, you still can't short until that BID ticks up.

On NYSE if a stock is 10 1/8 x 10 1/4, then stock prints for 10 1/8, then the bid goes down to 10, then stock prints for 10 3/16, then you can STILL short, because even though the BID ticked down, the last sale ticked up. What I'm unsure of is if you can short and get a sale price less than the last sale. You would have met the requirements for shorting, but then no-one could short after you until another uptick sale. I'd like some clarification on this.
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