i tried to short fnm today several times when it was up over 30%. i/b message said they would try to locate shares. frustrating...
Probably a dumb question, but ... how are short ETFs affected by restrictions? Can SKF keep going up and up and up when the stocks within it can't be shorted?
Every trader could probably make due with the rules as is in its current form, avoiding trading financials. BUT, what happens if the entire market becomes this difficult to short? Then what?
Dont you guys know that the SEC said you CANNOT SHORT THESE 19 FINANCIAL STOCKS.......... This news came out last week, hope you know whats going on... BNP Paribas Securities Corp Bank of America Corp (NYSE:BAC) - The Masters like it Barclays PLC (ADR) (BCS) Citigroup Inc (NYSE:C) - The Masters like it Credit Suisse Group AG (ADR) (CS) Daiwa Securities Group Inc Deutsche Bank Group AG Allianz SE Goldman Sachs Group, Inc. (NYSE:GS) - The Masters like it Royal Bank ADS HSBC Holdings Plc ADS JPMorgan Chase & Co (NYSE:JPM) - The Masters like it Lehman Brothers Holdings Inc (NYSE:LEH) - The Masters like it Merrill Lynch & Co Inc Mizuho Financial Group Inc Morgan Stanley UBS AG Freddie Mac Fannie Mae
my neighbor chuck schumer said he was having trouble shorting the next bank he was going to single out....
SORRY BUT THAT IS TOTAL BULL...IVE BEEN SHORTING BAC,C,WFC TODAY AND ALL LAST WEEK WITH ZERO PROBLEMS AND INSTANT FILLS THROUGH IZONE AMERITRADE.... Order ID Buy/Sell Qty Symbol Price O.Type Expire Status Fill Sp Executed Entered 4071199287 Buy To Cover 200 BAC 30.36 Limit Day Filled 200@30.26 10:33:51 2008-07-21 10:33:47 4071184066 Buy To Cover 200 BAC 30.44 Limit Day Filled 200@30.4399 10:31:51 2008-07-21 10:31:46 4071070537 Sell Short 200 BAC 30.73 Limit Day Filled 200@30.7401 10:17:49 2008-07-21 10:17:44 4070647193 Sell Short 200 BAC 30.10 Limit Day Filled 200@30.1301 09:38:20 2008-07-21 09:38:17
The s.e.c ban on short selling really only effects stocks with high short interests i.e fannie mae, freddie mac, lehman brothers. Bank of america has a two percent short interest so hopefully i.b will get its act together to allow you to short that one. Of course if you want to short 10,000 shares its a lot harder to find then 100. the sec list is a joke bnp paribas has like a zero percent short interest while stocks with like 50% short interest that don't get delivered are left out.