Discussion in 'Retail Brokers' started by lojze, Jun 11, 2002.
Is it possible with retail firms?
No; with certain exceptions, i.e. ETFs.
I think only Nasdaq small cap stocks are exempt from the short sale rule.
It's actually not possible anywhere. Including Professionals.....
Professional traders create an "artificial" long which they sell.
Retails can't create this "artificial" long
as someone mentioned ETF's are exempt
also before 9:30 am and after 4:00pm
Nasdaq Market Makers can sell without the uptick requirement.
But there have been trading firms that have non-props and whose software does not enforce the uptick rule. But it is still against the rules.
But not for their own accounts as dealers....only for a customer as brokers.
I believe that on the Nasdaq, it only has to be an up-bid, not an uptick. So if the last trade was a downtick, but someone raised the best bid, you could sell to it.
That is correct,on Nasdaq you only need an up-bid(as opposed to an uptick)to short,or if the bid is a downbid,you can short at least a penny higher.It is therefore much easier to get short on Nasdaq than on the NYSE.
If you like shorting, try the QQQ's and the E-minis.
You can short these all day long.
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