Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Melissa McAuliffe who wrote (1027)	5/15/1998 9:42:00 PM
From: Scott Overholser	Respond to of 2120

Wasn't Datek the broker in question? Datek will automatically sell short. All ya gotta do is sell something you don't have. It requires the requisite buying power first tho. --melissa mcauliffe said: Steve, With respect to being short if the second sell executes....I use DLJ Direct currently. I know that I cannot sell something that isn't in my account unless I enter it as a short sale when I set the limits initially. Thus, I believe maybe it depends on which firm you are using. So in this particular case(at least the way I understand it), I couldn't end up short a stock I didn't want to short in the first place. Does that make sense to you? Melissa

To: Melissa McAuliffe who wrote (1027)	5/16/1998 7:44:00 AM
From: steve goldman	Respond to of 2120

Melissa, definately, some firms have safeguards to prevent such mistakes. Nonetheless, this comes at the expense of slower executions and perhaps missing a trade. What about technical shorting, that is you own abcd at firm a, initate a transfer to firm b, because you want firm b to sell it. Firm b locks it in on ACAT system yet its not physically there for 2,3 more days. You should be able to sell it. What about the situation where you have physical certs at home, those shares of DIS mom and pop gave you when you were 8. The point is, regardless of whether you firm has such safeguards, whether they are to your benefit, whether you feel they restrict you, you are still responsible for getting a confirm on the 'out'. -Steve@yamner.com