Following up on the availability of TS shorts, below is a recent (1/6/2004) post from the Trade Station Support forum by a member called Voodoo. I hope he doesn't mind me re-posting his post, but I lack the RadarScreen function to mine the data. *** Attached is an Excel file with a large(HB) list, mined from a RadarScreen in TS tonight. Out of 1067 "tradable stocks" there are an incredible 256 (HB) stocks, or nearly 25% not able to be shorted for days at a time. Remember, my percentage of (HB) stocks is actually conservative and artificially low, because a high volatility high volume list produces around 40% or more (HB) stocks. Tradable is defined here to get a reasonable sample size as: over $5 per share, over 50% volatility, and trading more than 100k shares per day. I encourage you to verify my work by importing the Tradable Stocks custom symbol (also attached) list into a RadarScreen. AAII(HB) ACH(HB) ADAT(HB) AEM(HB) AGEN(HB) AHO(HB) AKSY(HB) ALOY(HB) AMEV(HB) AMHC(HB) AMR(HB) APHT(HB) APPX(HB) ARMHY(HB) ARRY(HB) ASF(HB) ASL(HB) ASMI(HB) ATN(HB) ATRX(HB) AU(HB) AVNX(HB) AVZ(HB) AWA(HB) AZPN(HB) BDY(HB) BEAV(HB) BEBE(HB) BELM(HB) BLTI(HB) BLX(HB) BOBJ(HB) BPT(HB) BSTE(HB) BVN(HB) BYH(HB) CALM(HB) CBA(HB) CDCY(HB) CEDC(HB) CEO(HB) CETV(HB) CHA(HB) CHINA(HB) CHN(HB) CHRT(HB) CHU(HB) CIG(HB) CIPH(HB) CLHB(HB) CMO(HB) CMPX(HB) CMRG(HB) CPTS(HB) CQB(HB) CREE(HB) CRXA(HB) CTIC(HB) CVTX(HB) CYCL(HB) CYD(HB) DCEL(HB) DCGN(HB) DHB(HB) DYIIE(HB) EEFT(HB) EENC(HB) EGHT(HB) ELN(HB) EMBT(HB) EMIS(HB) ENI(HB) EQIX(HB) ERJ(HB) ESPR(HB) EVOL(HB) FCEL(HB) FHRX(HB) FLSH(HB) FLYR(HB) FMKT(HB) FNB(HB) FWHT(HB) FWRD(HB) GERN(HB) GFI(HB) GG(HB) GGB(HB) GIVN(HB) GLFD(HB) GLG(HB) GNTA(HB) GOLD(HB) GRIC(HB) GRMN(HB) GT(HB) HAVS(HB) HDTV(HB) HEPH(HB) HLIT(HB) HNP(HB) IAG(HB) ICPT(HB) IDBE(HB) IFLO(HB) IFX(HB) IIF(HB) IMAX(HB) IMCO(HB) IMM(HB) INGN(HB) INLD(HB) INTI(HB) INTV(HB) ISIS(HB) IWOV(HB) JCC(HB) JCOM(HB) JEQ(HB) JFC(HB) JOSB(HB) KFX(HB) KGC(HB) KMRT(HB) KOSP(HB) KVHI(HB) KYPH(HB) LAB(HB) LAVA(HB) LF(HB) LGND(HB) LIOX(HB) LNG(HB) MANU(HB) MBRS(HB) MCDT(HB) MDG(HB) MDTL(HB) MED(HB) MEDX(HB) MERX(HB) MESA(HB) MFN(HB) MIPS(HB) MMPT(HB) MMR(HB) MNS(HB) MSO(HB) MSS(HB) MTF(HB) MVL(HB) MYGN(HB) NANX(HB) NCRX(HB) NFLD(HB) NFLX(HB) NFP(HB) NGEN(HB) NICE(HB) NIPNY(HB) NLS(HB) NMSS(HB) NNDS(HB) NOOF(HB) NTES(HB) NTGR(HB) NVTL(HB) NWRE(HB) NYFX(HB) OCA(HB) OCCF(HB) OMG(HB) OMNI(HB) ORB(HB) OSTK(HB) OXGN(HB) PAAS(HB) PANL(HB) PDG(HB) PGTV(HB) PHI(HB) PLCE(HB) PLUG(HB) POZN(HB) PPC(HB) PPCO(HB) PRST(HB) PRTL(HB) PTR(HB) PXLW(HB) QTWW(HB) RADN(HB) RBAKD(HB) RDY(HB) REDF(HB) RIO(HB) RRI(HB) RSAS(HB) RTEC(HB) SAY(HB) SCLN(HB) SCON(HB) SCOX(HB) SERO(HB) SFNT(HB) SGR(HB) SHI(HB) SHRP(HB) SID(HB) SIFY(HB) SIGM(HB) SIL(HB) SNIC(HB) SNP(HB) SNSA(HB) SPPI(HB) SRDX(HB) SSFT(HB) SSRI(HB) SSYS(HB) STAT(HB) SUPG(HB) SWC(HB) SYNO(HB) SYXI(HB) TALK(HB) TASR(HB) TCP(HB) TEO(HB) TEU(HB) THER(HB) TIVO(HB) TIWI(HB) TKLC(HB) TLRK(HB) TMR(HB) TMWD(HB) TRPH(HB) TTF(HB) TWP(HB) ULBI(HB) USNA(HB) VDM(HB) VIP(HB) VSGN(HB) VTEK(HB) VXGN(HB) WEBX(HB) WGO(HB) WHI(HB) WIN(HB) WIT(HB) XING(HB) XMSR(HB) ZGEN(HB) ZIXI(HB)
Tradestation has a terrible short inventory even thought they clear through Bear Stearns. I checked the list of stocks(72) I trade and about 25% are HB according to TS while only a few are listed as HB with IB. TS claims they will improve this situation when they become self clearing. Whether this is the case remains to be seen. Their track record is spotty when it comes to fullfilling promises. Their website still claims: "Through TradeStation Securities' relationship with Bear Stearns, you can take comfort in knowing that you'll have access to the largest borrower of U.S. equities in the industryâBear Stearns has averaged nearly 20% of the reported NYSE short interest" This as you can see from previous posts is not the case. DS
MYDemaray, I'm considering switching to TS but was concerned about shorting inventory as well; here's TS's reply for what it's worth: Thanks for your interest in TradeStation Securities and the award winning TradeStation 7 platform. We certainly understand and appreciate your concerns vis-a-vis the stock loan issue. In addition, we clearly understand the importance of having a robust short box given our clients' trading patterns and proclivities. As such, one of the significant steps we have undertaken is to become members of Loanet. Loanet, which is the medium by which the street facilitates stock lending and to which virtually all major firms subscribe, will give TradeStation Securities both the ability and capacity to more than meet our stock borrowing needs. Moreover, self clearing affords TradeStation Securities the opportunity to be a direct counterparty to anyone on the street in order to borrow stock--should the need ever arise. Implicit within this is thus complete control and ownership of the "Hard-to-Borrow" (HTB) process. This will translate into a completely objective (i.e. purely based on the literal supply of a given security streetwide) decision to place a security on the HTB list versus one based on potentially other factors. In sum, we are utterly dedicated to continuing to provide our clients the opportunities to short securities in a timely and unfettered matter.