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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: snerd who wrote (8902)	2/14/1999 2:16:00 PM
From: Poet	Read Replies (3) \| Respond to of 56535

snerd: shorting through Waterhouse: Hmm, I'm trying to think of a nice way to say this: Waterhouse often rejects my attempts to short, citing no shares to borrow. They also tend to be a wee bit slow in terms of execution (guffaw) so I would not short a quickly-moving stock through them. Because I'm a nervous short, I feel better when shorting using a direct order-entry system (like MB Trading or Watley) so I can get out quickly if the trade turns against me. I forgot to mention another occasion in which I short: CNBC interviews. I've been known to go long all morning, sell right before the CEO is introduced, then sell short when he begins to talk. If the stock has been pumped as a CNBC trade all over SI and has risen 3 to 5 points during the morning, you can rest assured the balloon will burst during the interview, particularly if the CEO doesn't present well or is asked contentious questions. I would not, however, do this with a big internet company, only with a smaller, more obscure one.