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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 (1132)	6/19/1998 11:23:00 AM
From: Darren	Respond to of 2120

...find a broker that thinks the customer is more important than the next commission and your alarm clock will go off and you'll wake up... Sometimes I wonder if SI isn't a compendium of how not to do business as a brokerage house -- but commissions are relatively cheap and nobody cares. Good luck.

To: Melissa McAuliffe who wrote (1132)	6/19/1998 12:06:00 PM
From: R Stevens	Read Replies (2) \| Respond to of 2120

Melissa, I had the same problems at Discover Brokerage. I checked out DLJ when I was shopping around but found out they use the same clearing house,US Clearing, as Discover. Also every time you short someone has to make a call to find out if they can get the shares. (Haven't heard of anolan's technique but it sounds excellent.) I decided to go with Datek because their system is entirely automated, and thus fast. No humans making phone calls etc... So far I have been much happier. The confirmations are fast, and I like the simple web interface. Good Luck, RS

To: Melissa McAuliffe who wrote (1132)	6/19/1998 12:14:00 PM
From: dpl	Respond to of 2120

> 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< Yes you can.I do it all the time.Just call and ask to get a "tag number" for x amount of shares.You then can short that amount anytime that day.I do it before the opening.One problem at Fidelity is their software takes about 3 min to get a short order in and therefore it is faster to call a broker. On the positive side short sales are free from comm.You only pay for the buyback.Also if you have a problem knowing if an order is filled or not they will call down with you on the phone to find out.That happened to me once in a very active stock. In general Fidelity is not slow but also is not very fast.In fact I have been thinking of moving on. David