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

To: Melissa McAuliffe who wrote (1130)	6/19/1998 10:54:00 AM
From: Nemer	Read Replies (3) \| Respond to of 2120

Melissa: I offer this only as a possible suggestion because the situation changes from broker to broker, whether they be phone, online, or a combo ----- but this is what I do to hasten the transaction when I start a short sale ------ btw, I only short listed equities, not NAZ, but that's another topic which would necessitate a longer post . When you feel a potential short situation arising ---- call ahead to arrange a "layaway" of the particular equity. there is no obligation to use this reserved position (indeed, you will be given a reservation number similar to a confirmation number) which is good for a trading day. this will eliminate the need for the brokerage house to seek out the required stock certs at the immediate time of your proposed short sale and enable you to short sell them faster. As I said, this is what I do, but comments or observations are welcome. Regards --- Nemer

To: Melissa McAuliffe who wrote (1130)	6/19/1998 10:11:00 PM
From: BILL G. WRIGHT	Read Replies (1) \| Respond to of 2120

Did you send in the necessary forms to open a margin account? Also, i believe you can only short a stock on the Nasdaq on an up-tick. Perhaps this stock, although not likely, had not made an up-tick at time you were checking status of the transaction. I use Datek for online trading and do not believe I would have experienced the problems you cited. However, I believe one can have problems with any of the on-line brokers. I track a lot of message boards and judging from what readers post, all of them have problems. If I may also suggest that you might be a little too aggressive with your trading if you are inexperienced with it. Be careful, it can be a cruel game