Short Sale update

bdon · Apr 28, 2005

Quote from Copernicus:

Accordingly, all short sales in pilot securities entered through SuperDot and/or the Broker to Booth Support System (âBBSSâ) will be âmaskedâ, i.e., no price test will be applied upon execution

what does this mean? we have to enter the order as sell short but its going to be executed as a regular sale?

Well I would say yes. The sale would have to be marked as short because you still need to be able to prove you could borrow the stock to execute the sale. The hard to borrow list and proof of borrowing to the SEC still have to come into play.

stock777 · Apr 28, 2005

Yeah, the shorting game is zero sum.

Now you gonna be the zero or the sum?

Come to poppa.

Copernicus · Apr 28, 2005

Quote from ratboy88:

shouldn't be....they've had a year to prepare.

yeah, but who actually believed they would implement it this time.

ratboy88 · Apr 28, 2005

Quote from Copernicus:

yeah, but who actually believed they would implement it this time.

LOL......... good point !!!

risktaker · Apr 28, 2005

I think the SEC finally is allowing this because they figure tons of hedge funds were skirting the uptick rule anyway, so might as well make it "beneficial" for the little guy.

Hydroblunt · Apr 29, 2005

Quote from JayS:

http://www.nyse.com/Frameset.html?displayPage=/regshopilot/nysepla20050428.html

Some good stocks on that list. CAH, huh. Should be interesting to see how this acts on the next news day. UVN is another interesting one, it's been getting pushed down by shorts for the last few weeks, let's see what happens on May 2nd.

Hydroblunt · Apr 29, 2005

Quote from risktaker:

I think the SEC finally is allowing this because they figure tons of hedge funds were skirting the uptick rule anyway, so might as well make it "beneficial" for the little guy.

What little guy? Whole market is just hedgies & daytraders, half of which just go around the uptick.
The ones actually getting hurt by this are the conversions and ESSEX, as well as expert abusers of the uptick rule. Not sure if anyone actually benefits.

bdon · Apr 29, 2005

Hydro buddy, for the most part the scalpers are the little guy.
.

risktaker · Apr 29, 2005

Everything the SEC does is for the benefit of the "little guy". Don't you read the statements they put out?

Quote from Hydroblunt:

What little guy? Whole market is just hedgies & daytraders, half of which just go around the uptick.
The ones actually getting hurt by this are the conversions and ESSEX, as well as expert abusers of the uptick rule. Not sure if anyone actually benefits.

Avid_Consumer · Apr 29, 2005

is it possible the timing of this is somehow aimed to start trapping more eager money on the short side, since the market is cutting some lows here. is there any way in which this could actually give these stocks some lift at a time when a lot of them probably need it

no idea, just wondering