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Strategies & Market Trends : SOES Trading
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To: Fasttrader who wrote (1601)8/26/1998 11:30:00 PM
From: Gorak Shep  Read Replies (1) of 1618
 
The NASD has it absolutely right that hedge accounts used to short on down-bids have no other purpose than to circumvent the down-bid rule. I'm surprised it took NASD this long to police this abuse. Of course, those who have such hedge accounts knew this all the time.

Since using such hedge accounts to short sell is the same as NO down-bid rule, any lobbying to allow the hedge accounts is the same as lobbying for no down-bid rule. And fat chance of winning on that one. The charade has been exposed.

For those interested in NASD's point of view, see:

nasdr.com
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