Brokerage Firm Recommendation Needed for Shorting Stocks

Discussion in 'Retail Brokers' started by WinSum, Sep 27, 2003.

  1. WinSum


    I had gotten a Short signal on NTES yesterday at 9:35am ET on my chart but I couldn't locate any stocks available for borrowing at Ameritrade, IB, or TradeStation.

    Another Opportunity Lost. :(

    Is anyone using a firm that currently have NTES available for shorting ? I'm looking for a firm that have good supply of stocks available for shorting.

    A lot of firms claim that they have supply of stocks but I find that it is only true when we are in a bull market and the supply quickly vanish when we are in a bear market and that is the time when we really want to start shorting.

    The firm must be SIPC insured. I'm not looking for bucket shops.

  2. H2O


    You can consider using SSF's.... Don't know if they're available for your stock though
  3. H2O


    But be aware of the spread :mad: :D :mad: :D
  4. trade station via bear sterns has NEVER not allowed me to short a stock. their short inventory is second to none.


  5. WinSum


    This post is not aimed at disparaging Ameritrade, IB or Tradestation. No flame war plz.

    I am only trying to find out if anyone knows for sure if their brokerage firm currently allows them to short NTES online.

    I looked at SSF to see if it can be an alternative but found out most of the SSF are only for widely traded stocks. The Nasdaq stocks that I like short like NTES or SSYS don't have SSF.

  6. Geez, have you looked at NTES lately? I wonder why there are no shares available to borrow... If you could short shares without borrowing, there would probably be 3 times as many shares currently short as there are shares outstanding.
  7. Zuizo


    Cybertrader had plenty of SOHU SINA and NTES to short. Their pool of resources include Schwab and Penson.

    occasionally, Cyber will not have shares of a given stock to short but it is a rare occurrence.

    -- Z
  8. WinSum


    Thank you Zuizo.

  9. alanm


    Must be available from Schwab then. myTrack (Penson) doesn't show it as available.

    It is not on Assent's ( hard-to-borrow list, which ostensibly means that it is available, but I can't verify that until Monday (I'll try to remember).

    Hopefully, you are thinking about intra-day trading only. If you want to hold it for a while, remember that there is the risk of a forced buy-in, particularly if the borrow pool is mainly comprised of just a few large positions. It sure would be nice if this information were available, maybe published as a "buy-in risk factor" by the lending firms.
  10. Don't think SSF is available for SINA SOHU NTES.
    Maybe short through put option.

    #10     Sep 28, 2003