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Strategies & Market Trends : Tell it to John Reed Stark of the SEC -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (8)	3/7/2000 12:45:00 AM
From: Don Pueblo	Read Replies (2) \| Respond to of 17

Penson Financial. I actually don't know what their policy is on holding an IPO short overnight, but your point is well taken. I've never shorted an IPO and I never will. The reason I brought it up is because the rule changed about a year ago, you know it used to be that you had to wait for 30 days to short an IPO. Lots of people (including me until somebody corrected me) did not know the rule had changed. BTW, I have had some unpleasant experiences with Southwest. Penson is the best clearing firm I have ever dealt with, bar none. But they all make mistakes. The most recent one with Penson was a position I took for a position trade about a month ago. I had to call it in as the feed was down at the time, and they put the wrong stock in my account. The one I bought was around 4 bucks, and they put the same number of shares of an 18 dollar stock in my account. I watched to see how long it would take them to figure it out, and they did, in less than three days. <G> (And no, I didn't trade the margin that was created...<G>)