RE:Shorts using my sharesCoop007 wrote: Can someone please clarify, Shorts can only use shares from a margin account not a cash account
would HATE to think they have their gruby little hand on my virgin white shares
I was told through the trading desk at my brokerage that this is how it works. The only accounts that are game for the shorts are cash accounts with "margin" and putting them up makes no difference. All that happens if price hits $100.....the sale transacts and the short would get called to cover by settlement date. All other accounts such as regular cash (without margin) and all registered ones such as RRSP, LIRA, RIF, LIF, TFSA are off limits. Naked shorting is another thing. Apparently illegal in the US, but a gray area in Canada. However most houses would not even know where to begin....not accessible to the average guy.