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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: lindend who wrote (1449)	6/21/1999 5:14:00 PM
From: Peter V	Read Replies (1) \| Respond to of 10293

Wexler must have an ungodly amount of margin to use Fido to short. Those requirements are awful. Especially the part about 100 percent of the proceeds segregated so that you can't use unrealized gains for margin. Nobody else does that.

To: lindend who wrote (1449)	6/21/1999 5:57:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 10293

Fidelity's maintenance requirements based on the share price are listed below: $17 or more: 30% of market value Between $5 and $17: $5 per share $5 or less: 100% of market value or $2.50 per share, whichever is greater This is the same rule (for maintenance margin) as Datek applies! How come? Also Datek counts the proceeds from short sale not into buying power: They add the proceeds to the real cash, and then subtract the margin requirement (150% or more of the market value) from the real cash. This gives you exactly zero additional buying power (in the case the short position has zero profit).