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Also... I can speak from experience that in the average office very few
brokers feel comfortable shorting stocks.... most are permabulls......... so
it is usually an experienced broker who uses T/A or a broker who is clueless
but has a sophisticated client who wants to short.. it's not the normal
M.O. of the average investor..... from my yrs of observing other brokers
I've worked with over the yrs...... :-)
----- Original Message -----
From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, October 06, 2001 11:47 PM
Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
>
> ----- Original Message -----
> From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Sunday, October 07, 2001 1:04 AM
> Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
>
>
> > Norman.. let's look at why they are loaning it.. so a client can short
it
> > and pay a commission to the broker.. HELLO!!!!!!!!!!!!!!!
>
> NW: No, they are loaning the stock so they can earn the stock loan fees
such
> as interest on the credit balance. This source of income often exceeds the
> commission end of the biz. Given the recent deep discounts on stock
> commissions, I am sure the stock loan fees and interest they rip off from
> the public is more important than ever as a source of income.
>
> Cheers,
>
> Norman
>
> >
> >
> > ----- Original Message -----
> > From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Saturday, October 06, 2001 11:34 PM
> > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> >
> >
> > >
> > > ----- Original Message -----
> > > From: "Dorothy Carter" <dorothy.carter@xxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Sunday, October 07, 2001 12:45 AM
> > > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> > >
> > >
> > > > That was what I was saying.. Norman.. That was implied... they are
in
> > > > business to make money so if they can loan stock they
will..........
> > If
> > > > they don't do the business they don't make $$$ mulah....
> > >
> > > NW: They may be able to loan the stock, but that doesn't necessarily
> mean
> > > they will make money. The profit motive is the deciding factor. It is
> not
> > > whether they can do the business or provide the service. Stock loan
> fees
> > > are in part based on supply and demand. Too much short stock may mean
no
> > > fees are being paid on that stock loan.
> > > No dough, no go
> > >
> > > Cheers,
> > >
> > > Norman
> > > > ----- Original Message -----
> > > > From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Saturday, October 06, 2001 11:15 PM
> > > > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> > > >
> > > >
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "Dorothy Carter" <dorothy.carter@xxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Saturday, October 06, 2001 10:05 PM
> > > > > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> > > > >
> > > > >
> > > > > > They are in the business to do business.. if they have it to
loan
> > they
> > > > > > will..
> > > > >
> > > > > NW: They are in the business to make money. If they can make money
> > with
> > > it
> > > > > money, they will.
> > > > >
> > > > > Cheers,
> > > > >
> > > > > Norman
> > > > >
> > > > > >
> > > > > > ----- Original Message -----
> > > > > > From: "John Nelson" <trader@xxxxxxxxxxxxxxx>
> > > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > > Sent: Sunday, October 07, 2001 12:57 AM
> > > > > > Subject: RE: [RT] VERY HEAVY BLK activity ON MSFT
> > > > > >
> > > > > >
> > > > > > >
> > > > > > > Are they required to loan stock? Since its held in street
> > > > > > > name I imagine that its at the firm's discretion. But what
> > > > > > > do I know?
> > > > > > >
> > > > > > > -- John
> > > > > > >
> > > > > > > > -----Original Message-----
> > > > > > > > From: Don Thompson [mailto:detomps@xxxxxxxxxxx]
> > > > > > > > Sent: Saturday, October 06, 2001 10:03 AM
> > > > > > > > To: realtraders@xxxxxxxxxxxxxxx
> > > > > > > > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> > > > > > > >
> > > > > > > >
> > > > > > > > Sounds like its time to call the SEC...
> > > > > > > >
> > > > > > > > Don
> > > > > > > > ----- Original Message -----
> > > > > > > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > > > > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > > > > Sent: Saturday, October 06, 2001 10:29 AM
> > > > > > > > Subject: Re: [RT] VERY HEAVY BLK activity ON MSFT
> > > > > > > >
> > > > > > > >
> > > > > > > > > I can confirm being unable to sell short with the responce
> > from
> > > > the
> > > > > > > > > brokerage firm "No stock available to loan on AMZN".
> > > > > > > > >
> > > > > > > > > After having shorted it three times from February to June,
> > > > > > > > (upper teens to
> > > > > > > > > the 10-12 area), my last two attempts to sell it as it
> rallied
> > > > > > > > back up in
> > > > > > > > > early July, were met with the above statement from Schwab?
> > > > > > > > > don ewers
> > > > > > > >
> > > > > > > >
> > > > > > > >
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