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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Don Westermeyer who wrote (2936)2/13/1998 2:24:00 PM
From: Brooks Jackson  Read Replies (2) | Respond to of 18691
 
Re Schwab refusing to short WDRY: This was NOT a case of not having stock to borrow (although that has been a problem). In my case yesterday they just refused to take the order saying the stock wasn't eligible for short sales. No explanation. They also refused to short CSNTE the other day on grounds that it had not traded over $5 for a "significant period of time." When I inquired further, they said they ordinarily wanted to see a stock trading over $5 for at least 30 days before they would consider it marginable. As to WDRY, I still don't know what their problem is, but I'm running out of patience with Schwab.



To: Don Westermeyer who wrote (2936)2/13/1998 3:40:00 PM
From: Eric Klein  Read Replies (1) | Respond to of 18691
 
re WDRY: >I see a lot of complaints about Schwab's lack of ability to borrow stock to short. Makes even E*Trade look good!<

It's not that Schwab has no shares, it's that they have designated that WDRY is not margin-able and therefore not short-able. Which is even worse!


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