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

To: MMK who wrote (9729)	2/23/1999 2:24:00 PM
From: StockHawk	Read Replies (3) \| Respond to of 56535

MMK - Trading Mistake I do not know Schwab's system, but with most brokerage accounts you must specify "sell short" not "sell" and do in in a short account not a regular margin account. If you just hit sell on a stock you do not own the "sale" may go through but it is not a valid trade. In order to short the broker must be able to borrow the shares and there is an uptick rule, that's why shorts are kept in a separate account. You can sell stock that is not in your account without going short - for example, if you had a stock certificate in your position and planed to deliver it to the broker in 3 days. Since you made $300 on the deal, forget about it, but you may be hearing from Schwab if they see what happened. Just trying to help. StockHawk

To: MMK who wrote (9729)	2/23/1999 3:42:00 PM
From: Jon K.	Respond to of 56535

MMK, congrat on your first successful short<g> Short VRSN @107, short more CNET @123. Covered 50% ITVU @19 1/2, (will short again at 23) Sold all SHRP @ 15 1/16 (missed a chance to sell at 16) jon