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Hi Fred,
Tuesday, July 8, 2003, 12:04:10 PM, you wrote:
F> Interesting ... I'd like to see how the short side works since in the
F> states we're still only able to short stocks on upticks. So even
F> with overnight orders expecting to get the opening, for example a
F> stock that closed at $12 today, opens at $11 tomorrow and keeps going
F> down to $10 before it has an uptick to 10.01 it's of course the last
F> price that ones trade will be at. As far as limit and stop orders go
F> I agree but then of course one does not get all the positions that
F> one goes after using these and in a scalper type systems that by
F> their nature are expecting average profit to be very small, using
F> stop/limit orders on exits might at best be problematic.
We basically have no uptick rule for shorting here. A couple of
years ago an uptick rule was put in for institutions, but retail
accounts, even very large retail accounts, don't have to worry about
it, almost without exception. I can short on demand at the open, be
assured of getting the printed opening price, always.
Yuki
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