Get new broker?

B

bob2007

Friday , coudlnt' short PRKR. Penny stock understandably.

But today with my broker, coudln't even short UNH...

They explained, that they didn't have inventory. I could call next time to their trade desk. They can charge me a fee. And allocate inventory on the street.

Sounds pretty lame.

Time to change brokers?
 
This is normal. A lot of clearing houses have to be careful how many shorts they give out. If they give out too much, then people who are long, will not be able sell their shares because they are tied up in short positions.

I know many brokerages that charge for short borrows. Usually called a Stock locate fee.

Some clearing firms have a better short list than others. See how much the shorts cost you. They usually sell it per share.

Ex. .002 per share l 1000 share short locate will cost $2.00
 
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