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Non-Tech : Bill Wexler's Dog Pound
REFR 1.850+1.6%3:58 PM EST
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To: Stephen How who wrote (113)3/5/1999 9:13:00 PM
From: Mark L.  Read Replies (2) of 10293
 
If you'd like to short BTIM, but a) you're afraid it will spike up first, and b) you feel you'll have trouble borrowing shares, you may want to pursue the following strategy. Every day you try to borrow and short the shares. Whenever you get a fill, you simultaneously buy the stock. Thus, you have pre-boxed it. At the time the announcement comes and you want to short, you sell the long position.

This is an expensive approach because you are subject to double commissions, spreads, and slippage. However, it's better than the alternative--missing out on a trade about which you have a conviction.
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