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Non-Tech : Invest / LTD

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To: NucTrader who wrote (4225)	10/14/1998 8:59:00 PM
From: Slava Chechik	Read Replies (2) of 14427

re: Margin account. You have to open a margin account to sell short. Margin interest will not be charged if you have sufficient cash to cover the proceeds received from the sale. If the proceeds exceed the available cash in the account, then margin interest will be charged on the difference. So, if you sell 10k worth of stock short and have a 10k in cash on your account as of today close you would not be charged interest. If the next day position moves against you and stock worth 11k you will be charged interest on 1k. And so on. Also if you are long stock and did not buy it on margin do not let brokerage move it to a margin account. It could be borrowed for short sales. I hope it helps. Slava Chechik

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