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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lin who wrote (1634)	10/28/1998 8:50:00 PM
From: wily	Read Replies (1) \| Respond to of 7382

The simplest way of saying it is, you have to sell at a price at least 1/16 above the current bid. And yes, you can do that by entering an Island offer 1/16 above the bid. Good luck trading, wily

To: Steve Lin who wrote (1634)	10/28/1998 9:05:00 PM
From: Eric P	Read Replies (1) \| Respond to of 7382

Steve: A legal short position can be entered in during both an uptick bid and a downtick bid as follows: Uptick bid: The short can be entered at any price. => You can place a market order to sell at the bid or post an offer at the ask, above the ask or between the bid and ask. Sounds easy! Downtick bid: The short can only be entered at a price which is at least 1/16 point above the inside bid. This disallows placing a market order to sell short at the bid. Assume a stock is on a *downtick* bid, and trading at 60 bid, and 60 1/8 offered. A trader can legally post an ISLD order to sell short at or above 60 1/16. The trader could also preference market makers, etc. at or above 60 1/16. I hope this clarifies the rules for short selling. Good Luck, -Eric