Yes, so far as I know, there is no way to sell shares short without a margin account (which means you can't do it in an IRA, either). A margin account is just an account in which your broker extends you a certain amount of credit to buy and sell stocks without having to pay for the stocks. Kind of like buying stocks with a credit card. There is a limit to the amount of credit your broker will extend you, and you pay interest on the amount of money you have borrowed on margin. The difference is that the stocks you buy act as collateral for your margin borrowing, and if the collateral declines in value, the broker can call your loan in (i.e. require you to bring money in to cover the shortage). Similarly, if your exposure goes up because the stocks you sold short have gone up in value, the broker may give you a "margin call".
If you really are considering this kind of trading you should sit down with your broker and have him/her go over with you all of the ins and outs. They will tell you whether you qualify for margin trading and if so to what extent, and explain the rules about margin calls, short-selling, etc. Don't try it, however, until you understand thoroughly what you are doing, or you will almost certainly get in over your head.
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