I have seen IPIX falling on friday the whole day and I was not able to borrow it at IB for the whole day. Where does all the additional volume come from? Probably from shorting, right? So how is it possible, that IB doesn't have them available? I would really like to have official answer from IB person at ET. On the other hand, which brokers did have IPIX available for shorting on friday? Please help, fellow traders.
help you with what? borrow stock or official answer? first of all you should check IB short list- http://www.interactivebrokers.com/html/tradingInfo/usShortableStocks.html second-check, stocks which is restricted for short by 11830 rule- http://www.interactivebrokers.com/cgi-pub/upc11830_stocks.pl if IB page is not enough, here is the link on nasdaq- http://www.nasdaqtrader.com/asp/sym...&searchby=symbol&searchfor=ipix&marketcat=any on same website you will find info about 11830 rule. hope this helps you understand, that ability to short is not always depend on your broker's mood or inventory
Bob, IPIX shouldn't have UPC restrictions, right. So in a falling day, where all the volume came from?
could be from sellers,who bought stock on rise + from shorts,who been there from thursday and covering their position by end of the week... all we know for now, that this stock is not available for short for retailers, like you and me ,on friday,when you want to short it . welcome to my world, happens all the time...
IPIX--- Don't have the exact numbers with me, but roughly 30% of the float was short before Ridges comments hit the news wires (Two days later). It traded the entire float multiple times during thursday's frenzy. A huge amount of the up move was panicked short covering. http://news.moneycentral.msn.com/ticker/article.asp?Feed=RTR&Date=20040604&ID=3771631&Symbol=US:IPIX
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In case you haven't figured it out, the trading in IPIX is rigged. Some volume Friday can come from bag holding bottom fishers getting stopped out, not just sellers from Thursday. IPIX is a plaything of the MM's and the boys in the sub basement running the flow.