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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (11491)	7/19/2000 9:02:11 PM
From: TimF	Read Replies (1) \| Respond to of 24042

By the way can you show me how to short in the after hours? That is my point as well! I suppose if he had both long and short positions and sold the long position he would have effectively shorted after hours. Tim

To: Wyätt Gwyön who wrote (11491)	7/19/2000 11:05:56 PM
From: Rob S.	Read Replies (1) \| Respond to of 24042

How do you short during after-hours trading? Simple: First you need to get a broker and trading system with direct access to Island and other routing services. I use A.B. Watley's Ultimate Trader Pro. There are other's out there but I find ABW very reliable. Then you click in the number of shares and enter or click the price you want to enter the order at and then click enter. That's all there is to it. Same rules apply to after-market as market trading: must short on the up-tick. The market makers stopped trading after a couple hours from the close of regular trading. You can see their bids and asks on the Internet: best bid 122 1/4, best ask 122 7/16. That doesn't mean that is where the stock will begin trading in the pre-market. If there is an order imbalance the MMs have the ability to set the price where they want it. The imbalance most likely be on the bid side (buyers) so they are likely to set the open high - say around 124 or 125. That is because they are the "buyers and sellers of last resort" who must fill the imbalance. In other words, they must borrow the shares to sell you at an artificially high price: go short to fill the imbalance, which they will cover at a better price. But I don't know if that will happen - difficult to predict with NASDAQ stocks because there are several MMs vs. one "specialist" on the NYSE. Trading can be frantic in after and pre market because the big players usually step out of the way while the news chain-reacts through the news wires, media and the Internet. It often moves to short-term extremes. I can imagine the panic someone must feel if they had shorted the stock recently at a lower price only to have this happen. The technical analysis of the charts has shown a lot of weakness leading some to short it on the way down. Then, ZAP! S&P listing whipsaws the direction. Ouch! Be careful out there!