responding to message from Gerald Walls on Dec 9 1998 4:14PM EST
Sorry about those caps, i am not the original author of the body of the message, which was in caps. I di not wish to retype it :-)
You might see "massive shorting" in a different light if you read some of Richard Ney's book:
"The Wall Street Gang"
This kind of shorting can only be done by NYSE Specialist's, MMs, and by traders who are partners in their firms.(insiders)
"With $8,000, you can buy $10,000 worth of stock, but with $8,000 in stock, any Stock Exchange
member can buy $160,000 worth of stock for his own segregated investment account"
(1Ney, 112).
This leverage works for selling short as well!!!
Ney's 2 other books offer positive proof as to how powerful a tool this is in influencing price movement, hence the regulation that does not allow the public to see specialist short figures until 30 days after the fact! This link is just a sound bite from one of his admirers, but all three of his books are extremely well documented and should enlighten anyone as to the true nature of these so called "auction markets".
w3.trib.com
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