QQQ Short Interest

MRWSM · May 23, 2003

Wonder what was up with QQQ & DIA yesterday, a lot of brokers would not allow shorting for that day.

Also anyone know a good site to get short interest on QQQ?

GreenDog · May 23, 2003

Any broker not allowing short sales of QQQ should be dumped immediately!!

:eek:

harrytrader · May 23, 2003

Huh is this legal ? And how can so many brokers at once do that : did they receive instructions ?

Do they want to be alone to be able to unload

Quote from MRWSM:

Wonder what was up with QQQ & DIA yesterday, a lot of brokers would not allow shorting for that day.

Also anyone know a good site to get short interest on QQQ?

omcate · May 23, 2003

Quote from GreenDog:

Any broker not allowing short sales of QQQ should be dumped immediately!!

:eek:

This is right. Uptick rule does not apply to QQQ. You can even sell QQQ short without marking it short !!!

:eek: :eek: :eek:
:eek: :eek: :eek:

Gene Weissman · May 24, 2003

Just a note. QQQ's are an index basket that can be created with a deposit of a basket of QQQ shares called a "Creation Unit", in a depositary trusts , by a clearing or trading firm .SPY's creation unit was was 50,000 shares and I assume QQQ's creation unit would be similar. Since a unlimited amount of QQQ's can be created, QQQ's are open ended, like mutual funds. There should be no problem shorting QQQ's most of the time . Contact your introducing broker for more information .

Gene Weissman
E-Brokerage, LLC
gene@ebrk.com

momotrdr · May 24, 2003

This maybe very well so. However, in reality they were marked as (HB) on my ticker window. Meaning Hard-to-borrow. My equities account clears through Bear Stearns, who in fact hold the largest
inventory of shortable stocks in the market. If they were marking
QQQ as (HB), then there was an issue to be had on that index.

First time I had ever seen this marked as such.

If anyone knows what market dynamics were truely in play here, I'd really like to know.

-momo

Quote from Gene Weissman:

Just a note. QQQ's are an index basket that can be created with a deposit of a basket of QQQ shares called a "Creation Unit", in a depositary trusts , by a clearing or trading firm .SPY's creation unit was was 50,000 shares and I assume QQQ's creation unit would be similar. Since a unlimited amount of QQQ's can be created, QQQ's are open ended, like mutual funds. There should be no problem shorting QQQ's most of the time . Contact your introducing broker for more information .

Gene Weissman
E-Brokerage, LLC
gene@ebrk.com

Gene Weissman · May 26, 2003

QQQ's could be hard to borrow at times, but they are open ended and more can be "created". E-Brokerage, LLC clears through SLK and we have not had a problem borrowing them .
Call the Bear Stearns margin department or your introducing broker and see what's up.

Gene Weissman
E-Brokerage, LLC
gene@ebrk.com

Kicking · May 26, 2003

just wondering where do you get data for short interest on ETF's?

GreenDog · May 27, 2003

Gene,

No offense my friend, but the Qubes should NEVER be "hard to borrow." I don't know what "E-Brokerage, LLC" is -- but if you're trying to ply your wares here, you'd better get with the program! Maybe you could team up w/ the Trading from Main Street cat and offer some type of dual program??

dog

Quote from Gene Weissman:

QQQ's could be hard to borrow at times, but they are open ended and more can be "created". E-Brokerage, LLC clears through SLK and we have not had a problem borrowing them .
Call the Bear Stearns margin department or your introducing broker and see what's up.

Gene Weissman
E-Brokerage, LLC
gene@ebrk.com

mgkrebs · May 27, 2003

Quote from GreenDog:

Gene,

No offense my friend, but the Qubes should NEVER be "hard to borrow." I don't know what "E-Brokerage, LLC" is -- but if you're trying to ply your wares here, you'd better get with the program! Maybe you could team up w/ the Trading from Main Street cat and offer some type of dual program??

dog

Dog, look at the banner at the top of the screen.