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

To: Dave Shares who wrote (4278)	2/27/1999 2:02:00 PM
From: Dave O.	Respond to of 4969

Steve answered a similar question a few days back. See the following post: Message 7936421 Dave

To: Dave Shares who wrote (4278)	2/27/1999 2:10:00 PM
From: Mama Bear	Respond to of 4969

Dave, I shorted PDX at the open Friday, and it went off at 32 7/8, which was the opening price. I believe if it had opened lower than it closed on Thursday (31) I wouldn't have gotten the execution at the open, but had to wait for an uptick. Barb

To: Dave Shares who wrote (4278)	2/27/1999 3:30:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 4969

It must adhere to the uptick rule...thus if stock closes at 31 1/2 and opens at 31 9/16, you MAY get filled there...there might not be enough pressure to fill your order at 9/16, so you may be partially complete or entirely filled, or none at all..because with a 31 1/2 close, your preopen market short becomes a limit order to sell at 31 9/16 or better...assume that the 1/2 close was a downtick. Often, i will see someone get partially filled when it only open a 1/16 higher than prior close,assuming prior was downtick....rarely do I see gaps more than a teeny NOT clean up a short market order. Regards, Steve@yamner.com