I am looking to short a stock Monday morning when the exchange opens is there a good way to go about this?
2007-12-29 20:40:34 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
I would be willing to open an account just to do this....
2007-12-29 20:46:28 · update #1
You can't short a stock without a broker. An online account isn't necessary. Many brokers provide physical offices and most will take phone calls.
But if you do not already have an account, shorting a stock on Monday is probably impossible. Before you can trade, you would have to open an account and make a deposit. Of course the broker has to approve your account and your deposit has to clear. That will probably take at least a day. By the way short selling requires a margin account.
2007-12-29 22:15:51 · answer #1 · answered by Mystery 6 · 1⤊ 0⤋
It is imposible to short a stock without first establishing an account. A short sale is, in reality, a loan of stock. You borrow stock to sell, and then pay back with equal shares of the same stock. In order to obtain that loan, an account must first be established. That is required by not only rules and regs that govern the Stock Exchange, but also by Dept of Homeland Security.
2007-12-30 04:01:30 · answer #2 · answered by FRANK 5 · 0⤊ 0⤋
I can't imagine how you would short a stock without an account, unless you can get someone who owns the stock to agree to do it privately, but why would they? You can buy stocks without a broker through dividend reinvestment plans, but you can't short them.
2007-12-29 20:44:33 · answer #3 · answered by Katherine W 7 · 1⤊ 0⤋
OK, then open an account with Scottrade. but it usually takes a couple of days before you're able to trade or short. And you have to have money in your account in case the price rises.
2007-12-31 10:25:21 · answer #4 · answered by Yardbird 5 · 0⤊ 0⤋