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

To: brec who wrote (1627)	1/9/1999 8:00:00 PM
From: Brentsky	Respond to of 3216

Brec, Can't give you every legal description, but can assure you Cyberbroker follows all of the SEC or NASDAQ rules. As far as covering my butt, the clearinghouse of Cyber which is Penson has the option to call your short anytime you are in the red on your margin (I don't have the exact formula on the top of my head). But, they also have the option to allow your broker, in my case Cyberbroker, to make the decision. Cyberbroker let it ride the legal amount of time in which the stock dropped to the legally acceptable level for my margin account. I can assure you that not all brokers or clearinghouse allowed their traders the same option as me with KTEL. I trade in a trading room where several traders had margin calls on their KTEL shorts and lost a bundle. I am grateful to have learned a valuable lesson about shorts without losing everything I owned. For this I thank Cyberbroker. Brentsky