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re: How to get short when shorting is illegal?

Posted on 9/19/08 at 10:21 am to
Posted by Colonel Hapablap
Mostly Harmless
Member since Nov 2003
28791 posts
Posted on 9/19/08 at 10:21 am to
it appears that you can still directly short futures. So, if your brokerage supports it, you're still OK there.
Posted by Putty
Member since Oct 2003
25491 posts
Posted on 9/19/08 at 10:34 am to
per schwab, their is a specific list of 799 financial stocks you are not allowed to short...maybe others are still fairplay and I imagine that SKF practiced the shorting of these stocks, hence the halting of trading for that ETF while other inverse ETFs are still fair game

quote:

Urgent Notification



SEC Bans Short selling on 799 Financial Stocks
The Securities and Exchange Commission, acting in concert with the U.K. Financial Services Authority (FSA), today took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. The action is immediately effective. All open orders to short any of these 799 stocks will be canceled. Please refer to www.sec.gov for in-depth details of the order.


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