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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Larry S. who wrote (20172)	6/29/1999 11:27:00 AM
From: DanZ	Read Replies (2) of 53068

GUMM. Prepare for a short squeeze in GUMM. As I noted, over 900,000 shares of GUMM are sold short (about 16% of the float). Apparently much of the short position (I have heard ~600,000 shares) are held by RPR Clearing. Gunn Allen, who holds about 65% of GUMM through customer accounts, within the past few days changed clearing firms from RPR to Schroeder. Apparently, when GunnAllen left with their large long GUMM position, RPR was left with a huge naked short position and they are going to require customers to cover per Uniform Practice Code Regulation 11830. Please note that that it is entirely conjecture on my part that RPR will exercise their right to mandate closure of short sales, but the part about GunnAllen's position and changing clearing firms is fact. If you read Reg 11830 and put it all together, it makes a lot of sense. If anybody has any information on Reg 11830 and my interpretation of it, please post. Based on the chart, I think the stock could run to 10 3/4 to 11 if it gets through 10. Here's a link to the text of Reg 11830. exchange2000.com Thanks, Dan

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