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Zecco Shorting

post #1 of 7
6/23/09 at 6:17am
Thread Starter 
I tried to place an order to short, and the order got rejected with a message 'not permissioned'. I do have a margin account. What am I missing?
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post #2 of 7
6/23/09 at 1:34pm
Quote:
Originally Posted by UCLAlanEVO View Post
I tried to place an order to short, and the order got rejected with a message 'not permissioned'. I do have a margin account. What am I missing?
Not all stocks are able to be shorted. Which stock?
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post #3 of 7
6/23/09 at 2:04pm
Zecco doesn't allow you to short stocks under $3 no matter what the stock is, I know that for sure.
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post #4 of 7
6/23/09 at 3:32pm
Thread Starter 
I tried FPIC, LVS, SOL - the lowest is like $5.50. I selected 'short', typed in the quantity and ticker, and limit price (even tried market).
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post #5 of 7
6/24/09 at 3:38am
Quote:
Originally Posted by VeryLowRoller View Post
Zecco doesn't allow you to short stocks under $3 no matter what the stock is, I know that for sure.
i believe the rule is no stocks under $5. Scottrade shares the same rule
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post #6 of 7
6/24/09 at 3:39am
Quote:
Originally Posted by UCLAlanEVO View Post
I tried FPIC, LVS, SOL - the lowest is like $5.50. I selected 'short', typed in the quantity and ticker, and limit price (even tried market).
should call the broker and ask

LVS should be shortable on margin

unless you have less than $2k in your account
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post #7 of 7
6/24/09 at 7:15am
Quote:
Originally Posted by Norlan View Post
i believe the rule is no stocks under $5. Scottrade shares the same rule

I tried to short GM when they were filing bk and they told me nothing under $3. But that was a month ago.
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