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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (7378)	6/24/1998 1:35:00 PM
From: IceShark	Read Replies (1) \| Respond to of 164684

Why will your broker cover the short? Tell him to buy long and leave the short in place. Regards, DWW

To: craig crawford who wrote (7378)	6/24/1998 1:35:00 PM
From: yard_man	Read Replies (3) \| Respond to of 164684

I don't understand. Why would you want to do that? Just buy an out of the money call if you want protection. OW just hang on. The porbability of another 10 point rise tomorrow is very, very, very slim.

To: craig crawford who wrote (7378)	6/24/1998 1:38:00 PM
From: Peter V	Respond to of 164684

Someone said Datek doesn't allow boxing. The system doesn't understand it. Have no experience with it myself.

To: craig crawford who wrote (7378)	6/24/1998 6:58:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 164684

I wonder if there is some way I can box it. I think if I try to buy an equal amount long, my broker will just cover the short. Does anyone have experience with this? Craig, For the longest time, I've had AMZN shorts boxed against an equal long position, both at Fidelity. The shorts are what they call the type 3 or "short account" and the longs in the type 2 or "margin" account. So, it definitely is doable. Plus, at Fido, a boxed position uses only 5% margin. Recently, I replaced the long shares with a long call position, theory being that if AMZN suddenly drops, it might fall right through the long call strike price and result in a gain on the short position itself (whereas, in a fully boxed position, the longs go down in step with the shorts, all the way to zero). Good luck, Gary Korn