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Short selling

Strategic bettors and gamblers can be real sifus when they do well it with system and method.

gavinl      ( Date: 26-Mar-2013 21:48) Posted: Lol,maybe yes maybe no. I not very bright you know? I just like to punt n not invest. In short is gambling. How can a gambler be sifu? Lol. student      ( Date: 26-Mar-2013 21:33) Posted: Lol... When you tikam more you will soon become a sifu. Hahaha.

 

Lol,maybe yes maybe no. I not very bright you know? I just like to punt n not invest. In short is gambling. How can a gambler be sifu? Lol.

student      ( Date: 26-Mar-2013 21:33) Posted: Lol... When you tikam more you will soon become a sifu. Hahaha. gavinl      ( Date: 26-Mar-2013 21:19) Posted: Like i just posted, to date i didnt receive anything in writing or in any kind of communication that i had flouted the new ruling. My broker also confirned that that is nothing wrong as long as the equal amount of shares were covered back within same day. Will update you guys again if the next few days i receive any information (hopefully not) By the way, i m not any sifu lah. Just tikam tikam in buying shares. Lol

 

Lol... When you tikam more you will soon become a sifu. Hahaha.

gavinl      ( Date: 26-Mar-2013 21:19) Posted: Like i just posted, to date i didnt receive anything in writing or in any kind of communication that i had flouted the new ruling. My broker also confirned that that is nothing wrong as long as the equal amount of shares were covered back within same day. Will update you guys again if the next few days i receive any information (hopefully not) By the way, i m not any sifu lah. Just tikam tikam in buying shares. Lol. iPunter      ( Date: 26-Mar-2013 21:10) Posted: Yes sifu... This is exactly what my sifu is talking about. Since at the end of the day we have the stocks to cover/offset the position (able to deliver), there is no problem as far as the broker or the client is concerned.   But technically, at the time of the order submission, it is a (naked) short. If this practice is allowed now and in the future, that's well and good. But is this implicitly confirmed or in writing, in the light of the new marking ruling?

 

Quoted:

  But then I have not heard of anyone getting fine for not marking as a short sale.. they only get fine if they never cover on the same day.

  Thus gavinl has proven it..

iPunter      ( Date: 23-Mar-2013 16:09) Posted: Sifu is still missing my point twice... I am not talking about not covering on the same day. I am talking covering on the same day... Anything explicit regarding that? If someone orders a short in the morning without ticking, and then cover later in the day, is it possible for SGX to come after him with a fine? Technically, it should be marked. medivh      ( Date: 23-Mar-2013 16:01) Posted: Most brokerages have stated that all short selling need to " tick" the checkbox " short selling"     However if you have not mark it as a short sale... and you execute the short sale.. you will need to tell your broker. (at least its a requirement)           But then I have not heard of anyone getting fine for not marking as a short sale.. they only get fine if they never cover on the same day

 

Like i just posted, to date i didnt receive anything in writing or in any kind of communication that i had flouted the new ruling. My broker also confirned that that is nothing wrong as long as the equal amount of shares were covered back within same day. Will update you guys again if the next few days i receive any information (hopefully not)
By the way, i m not any sifu lah. Just tikam tikam in buying shares. Lol.

iPunter      ( Date: 26-Mar-2013 21:10) Posted: Yes sifu... This is exactly what my sifu is talking about. Since at the end of the day we have the stocks to cover/offset the position (able to deliver), there is no problem as far as the broker or the client is concerned.   But technically, at the time of the order submission, it is a (naked) short. If this practice is allowed now and in the future, that's well and good. But is this implicitly confirmed or in writing, in the light of the new marking ruling? gavinl      ( Date: 26-Mar-2013 20:58) Posted: Just to share Naked shorted last friday without pressing the short sell button but instead the normal sell button. No penaty if cover back the volume of shares within the same day. The short sell button is for indicative only. Till today, i have not receive any notification from sgx or my brokerage house. My broker also confirmed this matter. For my case was, i had got xxx vol of shares n i queued at different prices to sell. But the buying up was too fast for me to remove, meaning i had sold more than what i had n that resulted the naked short. Received my sale statement today from sgx too but never indicate that i flouted any rules.

 

Yes sifu... This is exactly what my sifu is talking about.

Since at the end of the day we have the stocks to cover/offset the position (able to deliver),

there is no problem as far as the broker or the client is concerned.

  But technically, at the time of the order submission, it is a (naked) short.

If this practice is allowed now and in the future, that's well and good.

But is this implicitly confirmed or in writing, in the light of the new marking ruling?

gavinl      ( Date: 26-Mar-2013 20:58) Posted: Just to share Naked shorted last friday without pressing the short sell button but instead the normal sell button. No penaty if cover back the volume of shares within the same day. The short sell button is for indicative only. Till today, i have not receive any notification from sgx or my brokerage house. My broker also confirmed this matter. For my case was, i had got xxx vol of shares n i queued at different prices to sell. But the buying up was too fast for me to remove, meaning i had sold more than what i had n that resulted the naked short. Received my sale statement today from sgx too but never indicate that i flouted any rules.

 

Just to share
Naked shorted last friday without pressing the short sell button but instead the normal sell button.
No penaty if cover back the volume of shares within the same day.
The short sell button is for indicative only.
Till today, i have not receive any notification from sgx or my brokerage house. My broker also confirmed this matter.
For my case was, i had got xxx vol of shares n i queued at different prices to sell. But the buying up was too fast for me to remove, meaning i had sold more than what i had n that resulted the naked short.
Received my sale statement today from sgx too but never indicate that i flouted any rules.

 

Sifu is still missing my point twice... I am not talking about not covering on the same day.

I am talking covering on the same day... Anything explicit regarding that?

If someone orders a short in the morning without ticking, and then cover later in the day,

is it possible for SGX to come after him with a fine? Technically, it should be marked.

medivh      ( Date: 23-Mar-2013 16:01) Posted: Most brokerages have stated that all short selling need to " tick" the checkbox " short selling"     However if you have not mark it as a short sale... and you execute the short sale.. you will need to tell your broker. (at least its a requirement)           But then I have not heard of anyone getting fine for not marking as a short sale.. they only get fine if they never cover on the same day. iPunter      ( Date: 23-Mar-2013 06:29) Posted: Covering back a short on the same day has been commonly practised with no problems. The question now is, if covering back a short on the same day, is it permissible to mark it as a normal sell instead of a short-sell?

 

Most brokerages have stated that all short selling need to " tick" the checkbox " short selling"

    However if you have not mark it as a short sale... and you execute the short sale.. you will need to tell your broker. (at least its a requirement)

          But then I have not heard of anyone getting fine for not marking as a short sale.. they only get fine if they never cover on the same day.

iPunter      ( Date: 23-Mar-2013 06:29) Posted: Covering back a short on the same day has been commonly practised with no problems. The question now is, if covering back a short on the same day, is it permissible to mark it as a normal sell instead of a short-sell? medivh      ( Date: 22-Mar-2013 22:16) Posted: Basically " NAKED" short sell still applies .. if you don't cover intraday.. you will incur 1k or some % of your stock ,as fees for not covering.     Now the only thing is you must indicate your trade is a Naked short sell when you use software platform to trade or via broker. (only recent)         All this is to indicate short sell sales which will be produced at end of the day by SGX. *CFD* is also short sell but you dont have to cover back the same day. Correct me if I'm wrong... (" ,

 

Covering back a short on the same day has been commonly practised with no problems.

The question now is, if covering back a short on the same day,

is it permissible to mark it as a normal sell instead of a short-sell?

medivh      ( Date: 22-Mar-2013 22:16) Posted: Basically " NAKED" short sell still applies .. if you don't cover intraday.. you will incur 1k or some % of your stock ,as fees for not covering.     Now the only thing is you must indicate your trade is a Naked short sell when you use software platform to trade or via broker. (only recent)         All this is to indicate short sell sales which will be produced at end of the day by SGX. *CFD* is also short sell but you dont have to cover back the same day. Correct me if I'm wrong... (" ,) iPunter      ( Date: 22-Mar-2013 21:38) Posted: This short-selling and covering back within the same day appears to be unaddressed. While it has been the usual practise for the broker to square off the buy/sell positions     on the same day, it is not clear whether with the new marking rules apply in such instances. Logically, if the short position is covered on the same day, it would mean the seller is able to make     delivery by the due date, thus making it effectively a covered short?   Can any remiser/ex-remisier can enlighten further on this?

 

All voiced to bad jugdement for today. Had learnt my lesson.

Actually,be it long or short,to me, is still betting. Just that sometimes,depends on situations.

Well, today i thought the buy up wont sustain but it did. Painful indeed but life goes on.

Thanks again for your valuable comment.

hohokit      ( Date: 22-Mar-2013 19:39) Posted: Short a counter is try to find the top and sell why don't try to find the bottom and buy more safe right

 

If buy on contra but sell within T+3, would it be mark as a normal sell or short sell?

 

Basically " NAKED" short sell still applies .. if you don't cover intraday.. you will incur 1k or some % of your stock ,as fees for not covering.

    Now the only thing is you must indicate your trade is a Naked short sell when you use software platform to trade or via broker. (only recent)

        All this is to indicate short sell sales which will be produced at end of the day by SGX.

*CFD* is also short sell but you dont have to cover back the same day.

Correct me if I'm wrong... (" ,)

iPunter      ( Date: 22-Mar-2013 21:38) Posted: This short-selling and covering back within the same day appears to be unaddressed. While it has been the usual practise for the broker to square off the buy/sell positions     on the same day, it is not clear whether with the new marking rules apply in such instances. Logically, if the short position is covered on the same day, it would mean the seller is able to make     delivery by the due date, thus making it effectively a covered short?   Can any remiser/ex-remisier can enlighten further on this?

 

There's a lot of information on the topic, but nothing is specifically mentioned about short trades which are covered on the same day.

 

Is this of help ?

  17. I have a buy order that is unfilled. I want to enter a sell order. How should I mark my sell order?

 

This short-selling and covering back within the same day appears to be unaddressed.

While it has been the usual practise for the broker to square off the buy/sell positions

    on the same day, it is not clear whether with the new marking rules apply in such instances.

Logically, if the short position is covered on the same day, it would mean the seller is able to make

    delivery by the due date, thus making it effectively a covered short?

  Can any remiser/ex-remisier can enlighten further on this?

 

You may need to pay penalty.. As soon as u realized you forgot to click to short button, call your trading rep before market close. They will make te adjustment at their side.

gavinl      ( Date: 22-Mar-2013 19:22) Posted: Any sifu here can share with me if instead of pressing the short sell button to short, i press normal sell button but bought bk end if the day, is it illegal? Thanks in advance for any pointers :)

 

Short a counter is try to find the top and sell why don't try to find the bottom and buy more safe right

 

I don't understand why you want to sell naked why don't you try to buy low, if you are wrong you still have a few days settle the contract and don't worry about the fines.

 

Any sifu here can share with me if instead of pressing the short sell button to short, i press normal sell button but bought bk end if the day, is it illegal?
Thanks in advance for any pointers
:)