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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (1216)11/16/1998 9:12:00 AM
From: trilobyte  Respond to of 4467
 
John , i belive that an ordinary brokerage has a rules ..
that they don't let you short on a margin if stock is not a minimum
of $5.00 share and for instance Investor edge ( cibc on line brokerage ) has this limit set to $ 2.00 ( please don;t take me
for 100% on numbers )
i would stay by mentioned #s say 97% -- rest of that is a margin
for brains misfiring .. 8-))

tlb



To: Buckey who wrote (1216)11/17/1998 12:56:00 AM
From: Harley Davidson  Respond to of 4467
 
I think you will find that using a discount broker will limit your shorting abilities. I assume it is the same in the states but the broker must find a lender of the stock in order to short it

You are correct. The broker has to find the shares first, then they can 'loan' them out for a short sale. Also, as a general rule, anything $5.00 and under can't be shorted. Although, I have had an order fill at 4 5/8.....

Jim


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