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Microcap & Penny Stocks : Gourmet's Choice Coffee Co. - GMCH -- Ignore unavailable to you. Want to Upgrade?

To: Zhivago who wrote (1912)	6/18/1999 5:37:00 PM
From: Peder E. Angvall	Read Replies (4) \| Respond to of 2161

I sent email to several online brokers to make sure that my statement was correct and every one of them responded that you cannot short OTCBB stocks at all, since they are not marginable and a stock needs to be marginable in order to short it. It may be different in Canada, but the US firms that I have contacted do not allow it. I didn't check with all brokerage firms, but I suspect that it is an SEC or NASDAQ rule. I don't know who you use online, but I have had an account with E*Trade for about 6 months and have been very happy. They charge $19.95 for limit orders (probably only up to 5000 shares, but I'm not sure) and I frequently trade OTCBB stocks. Executions for most BB stocks are also pretty quick, it is generally less than 30 seconds from when I submit an order to when it appears on my Level II screen. I've also used Datek (does not allow BB trades) and Discover (stocks under $1 get charged 2.75% commission. Ouch). PA