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

To: LTBH who wrote (8544)	5/13/1998 8:24:00 PM
From: Len	Read Replies (1) \| Respond to of 16892

How do you know if you can short a stock with Datek? Do you just enter a sell and see if it takes? It first has to be priced at $5 or above. And yes, you just enter an order to sell a stock you don't own to see if it takes. (Unless they have changed things since I shorted with them) (They used to show whether a stock was marginable by placing an "M" next to it in a quote screen. Perhaps that also signifies whether it's shortable. I just don't know.) I'm sure someone will post a clarification on this. Also if you currently are long in a stock can you enter just one sell to close it out AND go short? Yes, as long as your buying power would permit you to have what would appear to the Datek computer to be two orders entered. In other words, you would have to have the buying power available to short the additional shares BEFORE you sold the shares you own. Otherwise, you would have to sell the original shares and see the money hit your account before you could enter the short order. Are the margin requirements any different for shorts? No, not that I know of.