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

To: Nemer who wrote (1131)	6/19/1998 11:16:00 AM
From: Melissa McAuliffe	Read Replies (3) \| Respond to of 2120

Nemer, Thanks for the advice. I think I'll call DLJ and ask them if this can be done. However, I will be greatly surprised if they say yes. I am finding that this is not a brokerage that is "customer friendly". It's not like they have the least expensive commissions either! But I just find most of them somewhat rude and arrogant. There are other things that have happened aside from what I mentioned previously. It's almost as if they feel everyone is out to get them...at least that's how they treat you. I contrast this to Fidelity who can't do enough to help you out. It's a long story why I'm using DLJ for trading instead of Fidelity but as I said I'm going to switch. Just not sure Fidelity is the ultimate answer eiither. Actually, I think I'll call Fidelity w/the same questions about reserving stock for a short. I'll let you know what I find out. Melissa

To: Nemer who wrote (1131)	6/19/1998 12:15:00 PM
From: R Stevens	Read Replies (2) \| Respond to of 2120

anolan, Great info on the shorting technique. Also great personal profile. Your's is my favorite so far. I was wondering if you would elaborate a bit on the trading of Nasdaq vs. listed securities. When I was discussing one of my transactions that I thought should have gone through with a broker, he there is no first come first served in the nasdaq, but there is in the NYSE. Many Thanks, RS

To: Nemer who wrote (1131)	6/20/1998 2:29:00 PM
From: Dwight E. Karlsen	Respond to of 2120

nemer, I thought it was interesting that you suggesting calling ahead for a "layaway" or reservation of the stock which you want to short. I have always done that because I thought that was required. Everything I read about shorting indicated that you have to first ask your broker if they have shares to loan you so you can short them. I don't short too often, but I've always called ahead, usually in the early am before the market opens. My broker, Schwab, has always asked me how many shares I wanted to short, then put me on hold for a bit, then come back and said "yes okay, we have shares available and have reserved that amount for you, available for you to trade any time in the next trading day". They haven't acted like my request was unusual, so that's another reason I thought this was the required method for shorting.