Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Peter V who wrote (2791)	9/17/1998 2:23:00 PM
From: BDR	Read Replies (4) of 4634

<<To the thread: Datek told me something today that I think is total BS. They said that a Nasdaq order to short can be "killed", in other words canceled, on a downtick. >> Today I have been trying to place first a limit short order at the bid and then a market short order with Datek but because the tick went from up to down as I was placing the order I get the following message: Sorry. We cannot accept your order. Cannot short stock on a DownTick at bid price The order is killed and has to be reentered repeatedly until I catch an uptick. (I guess, because it hasn't happened yet. Bid and Ask are static, there just hasn't been any stock traded for a while). In the past the order stood until it was filled or expired at the end of the day if I left it open that long. No longer can one place an order and, if it is unfilled, leave it and hope the price moves back your way. This makes shorting a real hassle. Perhaps that's the purpose?

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