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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (4216)	2/19/1999 7:09:00 AM
From: steve goldman	Respond to of 4969

Two things: 1. You can email me your short requests any time during the day. I usually suggest that people do it first thing in the morning before other traders at other firms all over the world get interested. We can borrow it for the day, whether you use it or not, it doesnt cost anything to borrow if you dont use (use it and you know the margin story there). Anyway, if you are even thinking, remotely, call and borrow it ahead of time. 2. Nonetheless, if you decide on teh spur of the moment, at 3:29, that you need to short something you hadnt previously thought of, then yes, of course I have to borrow it. Tough call, GE could take 3 seconds, yet something more difficutl which I have to work hard to get could take a few minutes (if its taking a few minutes, figure that most other firms arent going to get it at all). no way around it..must borrow it before you sell it. Even on large caps. Can not assume anything. NASD law...affirmative determination then must borrow and sellon the proper prints. But on dells, ge's etc. I am usually starting to hit buttons while waiting those three seconds for the system to tell me its avail. Regards, Steve@yamner.com