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Non-Tech : Bill Wexler's Dog Pound
REFR 1.620+2.5%10:35 AM EST
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To: Bill Wexler who wrote (3707)9/18/1999 11:07:00 PM
From: Michael   of 10293
 
<Traders who want to sell shares short are allowed to do so only when the stock's most recent transaction took place at a price the same as or higher than its previous trade. This is called the uptick rule, and was instituted to protect stocks from being manipulated downward by relentless short-selling.

In after-hours trading, however, there is no consolidated record of trades taking place among the disparate firms and markets. So traders say short sales are very likely taking place even when a stock is dropping in price.>
nytimes.com
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