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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: MRO0054 who wrote (9375)8/5/1998 2:50:00 PM
From: Prof  Read Replies (4) | Respond to of 16892
 
Yeah - that was just explained to me by a condescending Datek rep.

So, it appears if you want to short a NYSE or AMEX stock, you either take this risk or place it as a limit order.

How do you guys determine when there is an uptick in these situations?



To: MRO0054 who wrote (9375)8/6/1998 12:14:00 AM
From: Esteban  Read Replies (1) | Respond to of 16892
 
Here's a quote from the NYSE regulation page you were kind enough to point us to regarding short sales:

"If the last sale was at 52 and the previous different price was at 52 1/4, a short sale may be made at 52 1/8 or above;"

Why couldn't a short sale be made at 52 1/16, the minimum tick? Do you think this example is correct, or is it possibly not updated since the minimum tick was reduced?


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