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

To: Doug who wrote (11903)	2/17/2001 6:53:31 PM
From: LPS5	Read Replies (1) \| Respond to of 18137

Are you suggesting that the firm looks at your specific positions and determines its' policies - and it's proprietary position w/respect to the market - from that? In order to get an answer with regard to "[what]...the rules [are] and who controls their enforcement," you have to be more specific. If you're talking about buy-ins and sell-outs, they fall under the NASD's Uniform Practice Code. The brokerage firm is conducting a business - not a service - and will protect itself in order to stay in compliance with its' required minimum net capital amounts by buying-in or selling-out as necessary, in accordance with fail to receive/deliver notices it receives. You can blame the firm if you like, I guess. But, it'd probably be more constructive (and realistic) to a) blame the issuers that float themselves so tightly that a small amount of buying propels them upwards, or, if applies, b) blame yourself, for not doing the due diligence that might have made you cognizant of the nature of the offering. I admit, though, that information on floats is sometimes hard to come by. LPS5