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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Taro who wrote (6969)	1/30/2009 6:32:51 PM
From: Sr K	Read Replies (1) \| Respond to of 20435

Taro, when I sell a stock for my cash, it is to take money out and build up my cash. So when I read your order >>sell half of my NOK and buy TWLL for the proceeds as well as for my cash on hand<< I read it that you wanted to sell half your NOK and buy TWLL with the proceeds, and sell the other half of your NOK ("as well as") for your cash on hand. Reading the second part made me realize that the order was potentially ambiguous. I think Elroy posted that you cannot sell part of a position (or cover part of a short). If you sell, you sell the whole position. But that's not in the header for our Rules. At that time there was an issue about the recordkeeping when someone wanted to add to an existing position. It would require that Elroy have two entries for one symbol each with a basis/share of Dollars invested divided by closing price on the day bought. Elroy didn't want to have multiple entries for one symbol for a player. I thought there is no recordkeeping difficulty for a reduction by 50%, but Elroy would still have to reduce the Dollars invested by 50% (easy enough to do), but the audit trail becomes less simple and observable by all players. And in post 6956 Jorj X Mckie ordered more BAC Message 25370422 We should clarify if you can add to and partially reduce positions.