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To: SJS who wrote (8924)	6/12/1999 11:49:00 AM
From: Thean	Read Replies (3) \| Respond to of 14427

Thanks Doc and Steve, 1. Waterhouse discourages selling within first 60 days. Those who do will be less likely to receive preferential allocation in the future. The language they used is rather soft. No ban. I really wonder if they have the resources to track all the flippers. 2. The negative thing is as long as I hold on to the IPO, I will not be able to use my margin for other purposes such as writing naked put. 3. Another question - how often has one's request been fully alloted? e.g. asking for 1000 shares and actually allocated 1000 shares in popular IPO's? I know E-trade has been giving bw 100 shares many times but do others have better allotment than this?

To: SJS who wrote (8924)	6/12/1999 2:16:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 14427

"Typically, the IPO stock will not become marginable until 30 days after the IPO starts trading. Only then can you buy more on margin, or, short it the stock in the open market. Steve, I used to think this was true as well. But I now believe there is no regulation, SEC or otherwise, that prohibits shorting. Also I've seen some references to IPOs becoming marginable before 30 days. I think the problem with shorting is getting shares to "borrow" as usually the float is small and most of the shares are held in "cash" accounts and thus not subject to borrowing. I think!