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

To: Esteban who wrote (10285)	11/16/1998 12:19:00 AM
From: Dave Hanson	Read Replies (1) \| Respond to of 16892

The obvious solution would be to hold two different Datek accounts. Unhappily, you can't electronically transfer stocks from one to the other--web site says you need to do this in writing. But perhaps you can wire funds from one account to the other. Anyone tried this? Ideally, one could transfer funds (if not positions) immediately from one account to another. With no minimum required to maintain an account, this would facilitate many strategies with a minimum of hassle. How about it, Datek? This shouldn't require much work on your part (assuming there isn't a way to do it already.)

To: Esteban who wrote (10285)	11/16/1998 1:27:00 AM
From: Gorak Shep	Read Replies (2) \| Respond to of 16892

Esteben, it is not legal to avoid the uptick rule for shorts by being both long and short the same security and just selling the long, even if they are in different accounts. Many daytrading firms supported this for quite some time by providing what they called "hedges" which required just 5% of the capital to set up the matching positions. But the regulators are cracking down on this and the firms that help their customers this way. For the uptick rule, you are required to net all the positions in related accounts to determine your true position. Now it is of course difficult to police this but the powers have spoken on this one.