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SP DRs
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Do any list-members have experiencs to relate, concerning availability of
stock to Sell Short ??
Both SPY and the Select Sector Shares are EXEMPT from the Uptick Rule,
governing short sales, and one would imagine the sponsoring exchange, the
Amex, has envisioned a class of shares, which can be traded much like a
liquid future, long or short.
Mr Jacob Goldfinger of Amex, will only say that this is a matter for ones
broker, and not an 'exchange matter' , although it would seem logical that
the Amex would have an interest in lubricating the currently 'clunky'
machinery, by sponsoring lenders of stock to facilitate short sales ~ It
seems a joke to have an UpTick Exempt stock, only to be told "No stock
available, so, try again tomorrow".
In 'Practise' it is very difficult to get hold of stock to short ~ yesterday
one of the larger internet-stockbrokers could not find any XLE [ SP DRs
Select Sector ENERGY] shares to short.
Making another attempt today , all they could find was just 100 [one hundred
shares] of XLE.
Does any one have similar experiences to share ??
cheers
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