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Topic: Selling pennies short
Turkish
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posted 04-21-2006 01:06 AM
Hi, I'm a stupid newb, but I've got a question. Can you sell penny stocks short? What stops me from shorting on a run, then buying to cover, both at market? Thanks a lot for any help.
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T e x
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posted 04-21-2006 01:36 AM
traders can't short penies, only MMs can. Besides, you wouldn't want to short during a run; you'd short at the peak or thereafter, hoping to cover before another run... --------------------Nashoba Holba Chepulechi Adventures in microcapitalism...
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R1 Man
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posted 04-21-2006 04:04 AM
Yep. BuyTex.....you read all the posts huh.......???
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T e x
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posted 04-21-2006 04:15 AM
ya--posts, books, filings, company sites...lottsa stuff --------------------Nashoba Holba Chepulechi Adventures in microcapitalism...
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Turkish
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posted 04-21-2006 06:35 PM
Ok, thanks for the replies. Is there a set price below which I cannot sell short?
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Machiavelli
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posted 04-23-2006 08:38 PM
ahh we just said you can't sell short Pennies... it's not allowed... if you want to sell short stocks $5 and over you can.. but there is a "uptick" rule for you to be able to do that... -------------------- Let the world change you... And you can change the world. Ernesto "Che" Guevara de la Serna
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T e x
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posted 04-23-2006 09:06 PM
shorting an advanced strategy, AND technique... when you go long? the most you can lose is the pps drops to 0, goes bankrupt, etc... Theoretically, pps can rise forever--for sure, past where you want to cover--so losses can be *much* larger --------------------Nashoba Holba Chepulechi Adventures in microcapitalism...
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Turkish
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posted 04-24-2006 01:06 PM
Yeah I saw where you said that, I was wondering why... I read up on it, and you can't short OTC or pinks. That's what I was wondering, not just "it's impossible". Thanks for the help though.
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T e x
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posted 04-24-2006 01:19 PM
Although I believe it's allowed offshore and in Canada... --------------------Nashoba Holba Chepulechi Adventures in microcapitalism...
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Machiavelli
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posted 04-24-2006 02:12 PM
we need to get accounts offshore and/or in Canada lol ... -------------------- Let the world change you... And you can change the world. Ernesto "Che" Guevara de la Serna
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renrob05
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posted 04-26-2006 02:01 AM
you can't short in Canada....that's BS. I looked into it. -------------------- Renee Easy money!
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T e x
Member
posted 04-26-2006 05:42 AM
no? Prolly 'Net myth... find out anything about offshore shorting of pennies? --------------------Nashoba Holba Chepulechi Adventures in microcapitalism...
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renrob05
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posted 04-26-2006 06:55 AM
not sure about offshore. I live in Canada and i would be a millionaire if i shorted pennies. -------------------- Renee Easy money!
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