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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (28205)	12/15/1998 10:47:00 AM
From: Maakamil	Read Replies (4) \| Respond to of 119973

E*Tard - #%@#% I'm about to go postal!!

To: Tim Luke who wrote (28205)	12/15/1998 10:57:00 AM
From: JustInTime	Respond to of 119973

Anyone mind giving me a quick tutorial on shorting? I consider myself an experienced trader (100-200/month) but have never got into shorting, but it is starting to look like I'm gonna have to learn if I want to make any money in the near term... I used Schwab, I have an option to buy/sell or sell short when I place an order...so say for example I want to short XXXX. XXXX last trade was at 10 1/2, with a bid of 10 1/4 and ask 10 1/2. Would I place an order to sell short 100 shares of XXX at 10 1/2? What if I tried to place an order to sell short at 10 3/4, what about at 10 1/8? Would it fill when the price went up? OK, then I place the order say for 100 shares sold short at 10 1/2. The stock drops to 9..how do I close my position, just place a regular buy order? Does that imply then that you can never simultaneously have a long and short position in a stock? I could see for example that if I owned MSFT with a average cost of $10/share, and it was now trading at $130, and I thought it was going to drop in the short run to $120, but didn't want to sell as not to trigger capital gains taxes, I may want to short some additional shares and then close out the short position at the lower price, all the while keeping my long position in MSFT? Anyone care to give me the basics?