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Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?


To: Todd N who wrote (1379)6/13/1999 2:57:00 PM
From: Mama Bear  Read Replies (1) | Respond to of 2076
 
Todd, I have been able to borrow and short shares of TSCM, BNBN, and ETYS through Waterhouse. I was told by the manager of my local branch that Waterhouse wouldn't ever lend non-maginable securities. Of course just because she said it doesn't make it true, but I gave it more probability since it came from a branch manager.

If you click on WebBroker trading limitations on your stock order screen, it gives the list of restricted securities. Lately it's been mostly fresh IPO's. When they took YHOO, AMZN, CMGI off the list I called, and was told that they had returned to normal margin status. I won't swear to that, as I don't carry margined positions overnight, so a 50% maintenance requirement serves me just as well as a 30% requirement.

Barb