Then I suppose you will be the first we hear from, telling us about all the money you are taking out of these stocks with this new easy way to get short. Ok then, I'll be watching for your post and will be ready to buy you lunch at 14 Wall if you can prove it (If you happen to be a cute female (you did say you were going to kiss Don Bright), I''ll take you to lunch regardless).
Before, they made you wait to go short and have a loss. Now it'll be faster. There'll be no wait and your money will be gone right away.
Try to gain an understanding of the short sale mechanics, let alone actual trading experience before making that statement. I can't say with 100% certainty but I side with SIZE. Uptick rule is smth that was exploited and is an inneffieciency that was used as a money making opportunity. Big market shorts provide 2 trading opportunties, the short takedown and the bounce. So say bye bye to those moves. Bullets were great at first, good after a while and turned into a chop chop penny fighting churning mess soon thereafter as prop shops where hiring newbies to hit bids left and right. Now that anyone can hit bids, there is no advantage whatsoever. In case of bad news, should be veeerryyy interesting to see what happens. I wager that on any stock doing 1mil and below, all bids will simply be pulled for points. Good luck getting short.
I can make this statement knowing that I understand shorting better than most. You don't need "luck" to get short if you know what you're doing.
rubberbird, Agreed, There is no luck required in shorts, but careful T / A Usually a) You are already in the short position the day before the announcement b) You are already in the short position when its not as volatile 30 minutes before it free falls. No need to "GET INTO" the short when the stock is jumping off the roof and almost hitting the floor.
LOL ok, well I'll play along and pretend that you actually trade, Mr. James Stock/Dr.Trader/Romeo/Manolo. Meanwhile, try to get it through your head that this new rule change is a key development for scalpers and may turn the world of many upside down.
Is this the list of NASDAQ stocks? http://www.nasdaqtrader.com/aspx/regsho.aspx Agree that this is a really crappy list. :-( Who trades these anyway? Where's KLAC, AMAT, CISCO, etc., etc.?
Is the Redi software ready for this? what about others, i think its going to be a mess first few weeks
Accordingly, all short sales in pilot securities entered through SuperDot and/or the Broker to Booth Support System (âBBSSâ) will be âmaskedâ, i.e., no price test will be applied upon execution what does this mean? we have to enter the order as sell short but its going to be executed as a regular sale?