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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Anthony@Pacific who wrote (4315)1/15/1999 8:09:00 PM
From: JustInTime  Read Replies (2) of 122087
 
Anthony, a few newbie "shorting" questions if I may (I do a LOT of trading, but have only tried to short once, don't feel I understand it well enough).

Question is, it seems when you short a stock you have to worry about a lot more than going long, like for example if there are any shares available. How can one short stocks in a fast moving market, when you don't really know if you are going to get shares or not? I tried it once just for the heck of it (100 shares of a cheap stock to keep the risk low) and I placed the order (Schwab web) and about 10-12 minutes later I get a call that no shares are available.

I'm used to buying a stock and flipping it sometimes in minutes, how can you function never knowing what is/isn't available in advance, on a fast moving stock, 10-15 minutes is a LONG time.

Another question, once I almost sold 2000 shares of a stock that I had only 1000 shares of, the web page told me that since I had only 1000 shares of the stock, I had to make sure I delivered the other 1000 shares w/in three days. If I didn't actually own these other 1000 shares than I would in effect be shorting the stock....made me think that I could always just sell stocks that I didn't own, as long as I bought them back w/in three days (in the same account). Is this legitamite? legal? Is there a downside to this?

Thanks, made a ton of money riding this market up, and thinking that I may need to start shorting my way down for a while as the market gets so expensive.

Thanks
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