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Technology Stocks : Cymer (CYMI)
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To: George Coyne who wrote (9116)11/11/1997 7:54:00 PM
From: Candle stick  Read Replies (2) of 25960
 
It is the rule but, and thats a big BUT, I believe there are ways around it, and MM's dont have to borrow stock to short it. To be honest with you I dont have all the details, but I do know that if enough people were to request certificates then the Transfer Agent would have to go to the shorts and force them to cover to return certificates for delivery to you......dont know if you could round up that many in CYMER but in RMIL there is a group of shareholders that have effectively cornered the market and now hold in certificate form almost the entire float. They now continue to buy stock and demand delivery of stock certificates, and guess what? There are none. the shorts have been cornered and the only way they can cover is to bid up the price to a point where a shareholder of a certificated share will sell it to him.........unbelievable but true. The RMIL people expect the stock to get to 50 before they sell. Its just $2.50 today. It was 20 cents a short while ago. the shorts thought they were going to drive it out of business and never have to cover. It makes for really interesting trading and just observing . Check out the RMIL thread and see the serious dogfight that goes on over there. Threats are starting to be exchanged as someone is about to get hammered for serious cash...............;^)
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