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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation
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To: Sportfish who wrote (2051)10/15/1999 1:05:00 AM
From: J. Nelson  Read Replies (1) of 2392
 
T.Y. It is this Message ** FOR ALL ** ((((INSIDE)))) A Short Read..

To: +Investor Clouseau (370 )
From: +Investor Clouseau
Thursday, Oct 14 1999 9:38PM ET
Reply # of 377

very interesting post from Stock Watcher's thread, hope nobody out of Canada was crazy
enough to short AOXY.

To: Stock Watcher (16727 )
From: Francois Goelo Thursday, Oct 14 1999 7:04PM ET
Reply # of 16743

S.W, Canadian Brokerages no longer allowed "Naked Shorting", according to this MEMO
sent to their Staff, which could partly explain the recent buoyant activity in certain
Micro-cap Stocks:

TO: ALL RETAIL AND INSTITUTIONAL STAFF
FROM: XXXXXXXXXXXXX
SUBJECT: SHORT SALES
DATE: OCT 13/99

EFFECTIVE IMMEDIATELY U.S. NAKED SHORT SALES ARE PROHIBITED.

THIS IS AS A RESULT OF REGULATORY CHANGES BEING FORCED ON BY
NATIONAL SECURITIES CLEARING CORP (NSCC) IN THE U.S.

IF YOU HAVE CURRENT SHORT POSITIONS THAT ARE NOT COVERED BY
BORROWED STOCK THE POSITION WILL BE BOUGHT IN WITHIN THE
NEXT 10 DAYS. CHECK WITH THE LOAN DEPARTMENT TO VERIFY IF THE
POSITION IS COVERED.

IF YOU INTEND ON SHORT SELLING YOU MUST CHECK WITH THE LOAN
DEPARTMENT PRIOR TO EXECUTING THE TRADE. IF IT CAN BE
BORROWED WITHIN OUR PRESCRIBED BORROWING LIMITS WE WILL
ENDEAVOUR TO BORROW.

IF IT CAN'T BE BORROWED YOU CAN'T DO THE TRADE.

FURTHERMORE, ANY OUTSTANDING SHORT POSITIONS FROM A LONG
SALE WHICH IS TO BE DELIVERED IN WILL BE BOUGHT BACK ON
SETTLEMENT DATE IF THE STOCK IS NOT RECEIVED. IF THERE IS GOING
TO BE A DELAY IN RECEIVING THE STOCK, CREDIT AND OR COMPLIANCE
MUST BE MADE AWARE OR WE WILL BUY IT BACK.
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