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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end? -- Ignore unavailable to you. Want to Upgrade?

To: DBen who wrote (610)	4/21/1998 5:09:00 PM
From: LoLoLoLita	Respond to of 3203

Dale, I've heard on other threads (YHOO and AMZN) that Datek lets you short shares that they don't have, taking advantage of Datek being a market maker. Only market makers are allowed to have naked short positions. So maybe Datek executes the trade as if it's for its own account. Even if this is true, it may not be a good idea to park a big wad of money with them unless you first check with the SEC and NASDAQ about their compliance history, and the financial safeguards to protect account assets. I've also heard that they allow shorting on downticks, but how they can get away with that is beyond my ability to comprehend, and it may not be true. David