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Shorting the Market
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knightrider
Elite |
06-Nov-2006 12:43
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Hikitty, For shorting, if you do not buy back at the end of the same day, there is no such thing of T+3 days !!!! The next day they will straight away buy back for you with penalty of +1 bit at its closing day price or take the day high and +1 bit, depend which is higher and plus a compound of some admin fees ! Thus, do not leave it open to be buy back by them, you are killing yourself. FYI. |
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puntit
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06-Nov-2006 12:43
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As this is a public forum, we really do not know for sure who the posters are unless we know them personally. For this reason, it would be better if someone from a known authoritative source can provide the information, so as to prevent any lingering doubts in the mind of our members here. On this question of shorting a counter, from postings here, one has the impression that we must cover our short position within the same day of the sell transaction whether we borrow any script or not. And if we borrow the script from SGX, we can wait 3 days before the position is closed out by SGX. This would mean that shorting requirements are not the same as buying requirements, with the latter allowing us to contra before the due date. In this sense, we can not contra a sell position like we do with a buy transaction. Can someone kindly clarify this for our benefit? Cheers :) |
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hikitty
Master |
06-Nov-2006 12:10
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Shorting can be done by individuals or groups. No need for special arrgt with broker. Groups who short normally borrow scripts from SGX for a fee- damage done will be lesser in that way |
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tanyagary
Member |
06-Nov-2006 12:00
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How does one short sell ? A special arrangement with a your broker? I only know that only experienced traders are able to do this type of trading as it involves higher risk. Please enlighten us |
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hikitty
Master |
06-Nov-2006 11:52
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Shorting must be covered by the person on the day itself or SGX will buy on his behalf T+3. If mkt down T+3, the person will be happy. Leave shares which appear to be downtrending without huge volumes or else one may have to pay dearly. Without the collective effort of everyone, shorting can be an expensive game. |
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gho485
Senior |
06-Nov-2006 11:52
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Does that mean you have to buy back within the same day? |
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tanglinboy
Elite |
06-Nov-2006 11:49
Yells: "hello!" |
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dangerous leh.... I kanna backside burnt before. |
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gho485
Senior |
06-Nov-2006 11:47
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Anyone out there is willing to share his/her advise on shorting the market....i have just realize that shorting a stock has to be covered within the same day. Is this true? |
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