Yes, without arranging for borrowing you can still short and buy back same day, but you take this risk of being penalised if some problems arise.  I prefer managing this risk by borrowing first.  It costs avg $5 perday for $15K of scrips, that's ok if I can make a profit.

Anyway thanks Xiaomage.

Yes, if you sell first, you must still borrow as I previously mentioned though you can side step the rules with taking the various risks and be penalised.  But if you buy first, then you can sell same day effectively contra-ing the position without any fuss.

Recently whenever you sell, some online brokerages will pop up a screen to warn you that you cannot short the share if you don't own it.

You will notice that when you buy, they no longer allow you to click the "contra" box if you want to buy to set off the sell position.

ya... i missed the boat ($0.705)... what about today? this counter sentiments not good leh...

0205 GMT [Dow Jones] Forward curve doesn't offer any clues to possible rebound in Baltic Dry Index, which down another 6.7% overnight, says Imarex. "One of these days these numbers (forward freight agreements) will show promise - though today is not that day. More reports of falling ore prices and declining demand for steel can be readily found. Until that changes - I don't expect to see the futures shine any uplifting light on the (dry bulk) sector," says analyst in report. On bright side, Imarex says reports of Capesize ships being laid up in port, while obviously reflecting market weakness, are "part of the self-correcting mechanism that shipping markets - and all markets - possess."(JAC)

cyjjerry85      ( Date: 16-Oct-2008 23:49) Posted: jng1103...ah...if u set ur targeted price at 2 bids higher...u will have reaped big gains within the day... lowest intra day at $0.705 ...just one bid of ur target jng1103      ( Date: 16-Oct-2008 15:39) Posted: No $0.70 No BUY... (today)

With the new restriction on short selling. ppl like us just stay and watch..

To sell you must own the stock or have first borrowed the shares in your account, or else you are naked short which is subject to penalty.  You cannot buy back the next day to cover the short.  The exchange will cover for you plus penalty..