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To: Yamakita who wrote (1080)8/27/1998 9:12:00 PM
From: CMon  Read Replies (2) | Respond to of 3015
 
My lawyers tell me otherwise. I suggest you get your view on selling boxed stock reviewed if you want to be sure. I'll admit it's a debatable point, that's why I got an opinion. The opinion I was given was as I stated, if the account you are selling for is net short, it doesn't matter that you're selling boxed stock.



To: Yamakita who wrote (1080)8/28/1998 12:37:00 AM
From: Mama Bear  Read Replies (2) | Respond to of 3015
 
Yamakita, the SEC or Nasdaq (yes, not sure which) is cracking down on boxed positions. The technical read of the rule is that you need to have an uptick to sell the long half. It has not been enforced much, perhaps that's why you're unaware of it. The way to avoid it is to use two different brokers, although that uses more buying power, and could be a hassle in some situations. Also, there is no journaling to cover easily.

Barb


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