I would have loved to shorted EGHT at $3.30 this morning, but was unable to because it wasn't available through my broker. Sometimes I feel like I am fighting with one hand behind my back because of this.
I often am not able to short certain NASDAQ stocks that have a made big move recently through my (nameless) online broker. Apparently they are not available to be borrowed. Would trading at a prop firm remedy this situation? Do prop firms have any better access to inventory then the online...
NYSE GLITCH CO$TS BROKERS
By RODDY BOYD
The New York Stock Exchange tried to sweep a "major snafu" under the rug in its electronic trade reporting system.
The glitch on Wednesday not only slowed down trading, but it cost floor brokers thousands of dollars.
It also raised eyebrows...
Today's action must be taken with a grain of salt. The NYSE handheld computers were down intermittently and some important functions were completely unavailable all day. We and many other firms around us on the floor turned away many orders because we were so swamped trying to do things on...
If you are able to establish and follow a system that is profitable. Then why on earth would you ever want to work for someone else?
It would be akin to a doctor learning how to heal people and then going to medical school.
It comes from Ed Seykota's interview in the Market Wizards book. Read that chapter and you will understand it better. Essentially, he was saying people sometimes sabotage their own success for various reasons.
I saw that report and I almost gave it some credence since expiration already passed, but now the reports seem to indicate he wasn't killed. Too bad. Hopefully soon though.
I have a funny story. I trade on the short side most of the time. (Most of my profitable trades anyway)
I caught CPST near its intraday high on the day it first broke out in the beginning of August. It dribbled down from its high much of the afternoon. I let it ride into the afterhours...
I am a trading assistant on the NYSE floor with a firm that specializes in risk arbitrage. I would like to add to this thread with any input I can offer. There is a lot of misinformation in the general public about the floor. By the way, I can give you some looks if you will teach me some...
Anyone able to short CPST through their broker today(8/31)? If so which broker?
I shorted it fine yesterday through IB, but have been unable to add to my position today.
Thanks.
You absolutley can back out if you haven't signed a contract. And don't think for one second that the bank wouldn't do the same to you if their hiring needs changed in the interim.