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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: wallstreeter who wrote (2780)	8/14/1999 2:24:00 PM
From: Rick Faurot	Read Replies (2) \| Respond to of 18137

There are a number of ways to do a short lookup at MBT. There is such a feature at the website. You can go to the chatroom #mbtrading and ask. There is also a lookup bot in the chatroom that will do the lookup automatically for you. Just type in @WXYZ and you will get an immediate automated reply. There is a short lookup in the Realtick pages. You can call in to see if the stock is available to short. The policy MBT recommends is that you contact them prior to the open about a stock you may want to short. If they don't have it available, they can call around and try to get the borrow for you. This usually works unless the whole world is shorting the stock and there are no borrows left (hint: watch for a short squeeze if this is true!). you can also contact them during the day via phone or #mbtrading and ask them to get you a borrow if you like. They will always try for you. The SEC rules on shorting are very strict and MBT will not let you short when it violates the rules. NITE has been under heavy short pressure from around 64 and evidently still is, so even though it is a widely traded stock, MBT can get tapped out on their borrows and then you don't get the short. That's the breaks. Keep in touch with MBT and you will avoid deleted short trades like that in the future. Rick Ps. I read your post of your Friday trades. I thought you did a very good job on a very tough day.