Wonder what was up with QQQ & DIA yesterday, a lot of brokers would not allow shorting for that day. Also anyone know a good site to get short interest on QQQ?
Huh is this legal ? And how can so many brokers at once do that : did they receive instructions ? Do they want to be alone to be able to unload
This is right. Uptick rule does not apply to QQQ. You can even sell QQQ short without marking it short !!! :eek: :eek: :eek: :eek: :eek: :eek:
Just a note. QQQ's are an index basket that can be created with a deposit of a basket of QQQ shares called a "Creation Unit", in a depositary trusts , by a clearing or trading firm .SPY's creation unit was was 50,000 shares and I assume QQQ's creation unit would be similar. Since a unlimited amount of QQQ's can be created, QQQ's are open ended, like mutual funds. There should be no problem shorting QQQ's most of the time . Contact your introducing broker for more information . Gene Weissman E-Brokerage, LLC gene@ebrk.com
This maybe very well so. However, in reality they were marked as (HB) on my ticker window. Meaning Hard-to-borrow. My equities account clears through Bear Stearns, who in fact hold the largest inventory of shortable stocks in the market. If they were marking QQQ as (HB), then there was an issue to be had on that index. First time I had ever seen this marked as such. If anyone knows what market dynamics were truely in play here, I'd really like to know. -momo
QQQ's could be hard to borrow at times, but they are open ended and more can be "created". E-Brokerage, LLC clears through SLK and we have not had a problem borrowing them . Call the Bear Stearns margin department or your introducing broker and see what's up. Gene Weissman E-Brokerage, LLC gene@ebrk.com
Gene, No offense my friend, but the Qubes should NEVER be "hard to borrow." I don't know what "E-Brokerage, LLC" is -- but if you're trying to ply your wares here, you'd better get with the program! Maybe you could team up w/ the Trading from Main Street cat and offer some type of dual program?? dog