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fbitz777
New Forum Member


Joined: May 24, 2006
Posts: 4
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An easier way to "unload" the stock tomorrow is to sell it SHORT when you are happy/unhappy with the price it is at at your regular on-line brokerage account (Fidelity,...).
then you can simply DTC the shares you have been allocated to that account at a later date to cover that transaction. DTCing stock is fairly simple...
I do this all the time because most of the time I need to open a new account to participate in juicy IPOS and that is a trick from these brokers to get my future business and fat commissions.
I requested 5000 and got 1300 |
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ckudrna
Full Forum Member


Joined: Apr 29, 2005
Posts: 62
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I do not think it will be possible to short this until after a certain period of time. |
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fbitz777
New Forum Member


Joined: May 24, 2006
Posts: 4
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why not
I have done it before and a long as you sell at an UPTICK it is fine. |
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moosh
Vonage Forum Associate


Joined: May 23, 2006
Posts: 21
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define DTC please
is there anything we can do before a quote is available? |
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skivrmt
Vonage Forum Associate


Joined: May 20, 2006
Posts: 11
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fbitz, you're saying you have shorted an IPO on the first day before?? I have no way of verifying but I doubt it. Generally no one will have shares available to lend for several days, most of the time greater than a week. Uptick has nothing to do with shorting, yes, it has to be on an uptick, but if no brokers have shares to lend, no one is shorting.
What stocks have you done this on before?
For moosh, every broker is assigned a 4 digit code called a DTC number. Basically like an ABA / routing number for banks. It is a way to transfer stock between brokers.
-Mark |
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moosh
Vonage Forum Associate


Joined: May 23, 2006
Posts: 21
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Why not just sell the allocation ASAP? What's the benefit of shorting the allocation at another broker? |
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