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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (1081)	8/19/1999 12:06:00 AM
From: James F. Hopkins	Read Replies (2) \| Respond to of 2103

OX; You right, they all trade till 4:15, on some days even a little latter..they will at times match as many as they can I had one go at 4:28 one day. Another thing about them is they are exempt from the down tick rule when you short them. Some brokers don't even seem to know this. ------------------------ When every I put in a short order they have to approve it if for no other reason than to clear the OK on shares to borrow. If the market is fast it can move from under any limit order I put in by the time they approve it , in that case I'll often get back a order rejected ( they couldn't find shares ) truth is they didn't look, but if I do a market order I always get shares however if the price is moving by the time they approve it I may not do so hot. At times I hold a short position , and instead of covering it just go long , this lets me short latter just by selling the long and by passes having to get approval so it's faster to get short from a boxed position. I had to argue with them as for stocks this is against nasdaq rules as it gets around the down tick rule. But being there is no down tick rule on the QQQ and spiders it's not illegal just faster. So after several phone calls and much pitching they let me work a box position on the qqq. I don't do it all the time but wanted to be able to, like I say it's only advantage is the speed of getting short as selling the long side at market is fast. ( avoids the approval delay ) Jim