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Hi Dryrain86,
If you short today, you have to buy back today, if not you will be fined.
If you want to short and you dont want to cover back by today, u can use CFD, Put Warrants, SBL or ES(Coming soon).
If you have further queries, you can email me tinpeng@hotmail.com.
reading from friday's today papers, it says that SGX is going to fine people who short sell and cannot recover within 3 days.
Is anyone able to enlighten me that so if i short sell today, must i buy back today or i got 3 days to buy back ?
Previous Trading Day's Bought-In on November 5, 2008
SECURITY TOTAL QTY EXECUTED CURR TOTAL VALUE
BIO-TREAT 4,348 S$ 439.15
BRC ASIA 50,000 S$ 5,250.00
CAPITACOMM 10,000 S$ 9,900.00
CAPITALAND 15,000 S$ 49,200.00
CHINA HONGX 5,000 S$ 1,225.00
COSCOCORP 10,000 S$ 9,450.00
DBS 3,000 S$ 35,940.00
EZRA 49,000 S$ 41,650.00
FIRST RESOURCES 10,000 S$ 3,700.00
FRASERSCOMM 10,000 S$ 2,840.00
GEN INT 85,000 S$ 36,125.00
GLD 10US$ 110 US$ 8,234.60
HIAP MOH 1,000 S$ 410.00
HL ASIA 32,000 S$ 24,544.00
HSI13200MBP81230 20,000 S$ 9,800.00
HSI16400MBC81127 172,000 S$ 51,600.00
HSI17600MBC81127 5,000 S$ 600.00
KEPLAND 11,000 S$ 26,950.00
KEPPELCORP 1,000 S$ 5,580.00
NOBLE GRP 19,000 S$ 20,900.00
NOL LTD 5,000 S$ 7,150.00
OCEANUS 200,000 S$ 42,000.00
PARKWAY HLDGS 2,000 S$ 3,740.00
SEMB CORP 2,000 S$ 5,660.00
SEMBMAR 39,000 S$ 84,240.00
SGX 11,000 S$ 62,810.00
STARHUB 10,000 S$ 22,900.00
STRAITS ASIA 15,000 S$ 18,450.00
UOL 3,000 S$ 6,030.00
WILMAR 22,000 S$ 61,600.00
WING TAI LTD 2,000 S$ 1,670.00
YANLORD 5,000 S$ 4,550.00
======================================
TOTAL S$ 656,903.15
US$ 8,234.60
Buy-in T+1 – CDP more efficient than I thot! Tks AK for clarifying.
From now on, better count fingers again and again to avoid that $1K.
P.S. Enjoy reading your humorous postings. Keep up the cheerful attitude.
If AK not mistaken, T+4 no existance.
Failing to recover the same day:
CDP will buy in for u next day, 11.30am, 2 bids higher than market price. However, if then the market price is lower than previous day closing price, including pre-closed period, then CDP uses the previous day closing price.
$30 mandatory clearing fee. GST applies.
5% fine on the proceed or $1000, whichever is higher.
CDP dun give u free medication, if u headache.
Check with your TR, for more details on your respective broking house.
So, it is now SGX buy-in tomorrow and not T+4, is it?
I thot $1,000 fine only if shorted unsuccessfully (i.e. counter go higher instead of lower than sell price). But then I heard either way need to come up w/ the $??
idesa168 ( Date: 29-Oct-2008 12:49) Posted:
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Now with the market dropping everyday. short selling would be a good choice on a short term to earn something out of the bear ?
dryrain86 ( Date: 29-Oct-2008 13:41) Posted:
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may i enquire, since singapore had already ban short selling in the market.
what does it mean when people talk about shorting ? is there any loopholes that still allows short selling ? eg: sell and buy within a day ?
pardon me for my ignorance