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Over the last few days, the market has given us many opportunities
for shorting stocks. Sometimes, it isn't easy.
For example: today I placed an order to short Gateway 2000 (GTW)
at the market. After giving a market order to my broker (REGAL),
I waited for a fill. For those of you who are new to trading stocks,
the rules say the stock must have an UP tick before an order to short
can be filled. Gateway 2000 is a fairly liquid stock and trades more
than a million shares a day. I watched dozens of UP ticks go by over
several minutes. After 10 minutes, I called and was told by my broker
that I had not been filled yet. After still another 10 minutes
and more up ticks, I called and was told I still was not filled. So I
cancelled the order. I was told that shorts are placed in a 'cue' and
that there was a chance I might never be filled...ever! What?
Question: Am I being told the truth?
It's very hard to complain about slippage without a fill. 8-)
Steve...
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