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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: steven d. zapf who wrote (6194)	12/6/1997 4:01:00 PM
From: Jon Tara	Respond to of 16892

Steven, the uptick rule is a bit more complicated than that, but you've got the gist of it. What you stated is correct for NYSE and AMEX stocks. For NASDAQ stocks, you can short on a bid uptick or at any price above the bid. For certain issues which are depository trust instruments (SPY is an example) there is no uptick required. I'm not quite sure how the uptick rule plays on Datek when you are holding shares in your account, but presumably for the transaction you listed above, the first 1000 shares would not be subject to the uptick rule, but the second 1000 would.