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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: CapitalistHogg™ who wrote (17636)	8/12/2004 2:04:18 PM
From: Umunhum	Read Replies (1) \| Respond to of 110194

<Wells Fargo just stopped making SPY available for shorting this morning. How is that even possible?!?> It happens all the time. It just means that for every long share that they hold in inventory for their customers that they have an equal amount short - or loaned out their long positions to other brokerages. A few months ago I was trying to short SMH (semiconductors holders trust) and Ameritrade kept canceling my orders. Finally, I called them up and they said they were out of shares - So I had to write deep in the money naked calls and a few days later I had my short position. You can get the same position by writing calls or selling a future contract. FWIW - I tried to short BZH two days ago and Ameritrade said they were out of shares so maybe the home builders have peaked.