Short Ban Expires My Ass

Discussion in 'Trading' started by NY0BScalper, Oct 9, 2008.

  1. Let's see... while the SEC says it's not illegal to short them anymore, I cannot get a locate on GS, JPM, USB, C, BAC, MER... AOC, IBM, GE... seems to me like the ban might just as fucking well have never expired. Maybe my broker is just crap; if you can get a locate on any financials, please post the ticker and whom you trade through.
  2. Chill out. The list will be ready to go by 8:15.
  3. Oh, OKAY. That's not so bad. And at least none of these are really trading heavily pre-market. 8:15's not so bad, but I thought it would be earlier... after all, the ban expired at midnight. Since the error message I was getting was "not on short list, contact stock locates", I was (based your post, most likely inaccurately) assuming that some entities were just hogging all the locates somehow, since the previous message was "Can't short as per SEC."

    Interesting/oddly enough, I still do get "Can't short as per SEC" when I try to post an offer in IBM.

    I just want to go back to the glory days of long/short financials trading.
  4. I was able to get any of the financials that I typed up this morning shortable...good luck.
  5. murphy's law says you guys will all get run over.

    The market was already anticipating financials being worth less, thus the last few days' price action.

    Watch it rally to 1035 today with XLF up $2.00...

    [i'm barely long financials... but the writing is on the wall]
  6. Genesis Laser is good to go on the financial shorts. And as the above poster mentioned I'd watch the shorts today, seems a rally may be coming.
  7. Agree completely. I went long SPY last night anticipating that, bought some more today. The bulk of my money comes from short term scalps, however; trading C with a 3 cent stop and a 9 cent profit target is more likely how I'll play the short side.

    Looks like I can post offers now; problem solved.

    I apologize for being an alarmist.