Every Leader or Leading Index I have Is retesting it's Low right now...
All I think is that this may have 94 in the move.... but I'm cautious...
So my current Thesis... is that we will get 94... then come back and retest this level...
and it will look like a Descending......
Monday, June 15, 2009
SO....
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SYNA is a great "animal spirits" stock... was unable to get any shares short this morning which is really too bad.
Market very oversold, under S2 bit not quite to S3. I.m looking to close some shorts, takes some profits... maybe get a couple longs.
Question: Ten days ago I went short a bank (VLY) and it went through and showed up on my Tradestation. Then a couple days later (last Monday), I was called by Tradestation and told i had to cover because they were having a hard time finding shares to borrow. Huh? I questioned it but then acceded and placed the trade verbally. This has never happened before, is it common?
you are confused...
s1 Was 94.36ish
S2 was 93.55
s3 Was 93.25
S4 is 92.50
but ya... oversold short term..
I'm not sure about that question..
You can short, and your brokerage has 3 days to find shares, by rule of the SEC...
if they can't "Find shares" they can force you into a "Buy IN"...
which is force you to cover...
but it sounds like they called and said "We may have to 'buy you in' " and were just asking you if you could/would cover instead of being forced into it....
but you said 10 days...
I wonder if they had "big client" who wanted to borrow the shares that you had already borrowed....
and they were trying to Bully you into it...
No, it was within 3 days-- last monday-- so that was prolly it.
I have s2 at 93.60, S3 92.92. Don't have an S4.
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