Tuesday, September 2, 2008

No Shares Available to Short?

That was one of two error messages I got from Scottrade today when I tried to short Federal Trust Corp. (Amex: FDT), one of the stocks I mentioned in this recent post, "The Strongest and Weakest Banks in America". FDT had risen from about 65 cents per share when I posted that to 85 cents per share, and after following its candlestick charting on Americanbulls.com, I intended to short it at 80 cents today. Plan foiled.

1 comment:

Anonymous said...

Now that they're actually making firms deliver shares tghat have been shorted insyead of just "locating them" this will become much more common.

It's a very good thing. The rules need to be enforced.

The uptick rule should never have been eliminated.