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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM
GPXM 0.00010000.0%Dec 12 9:30 AM EST
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To: Robert J Mullenbach who wrote (179)2/5/2001 6:32:49 AM
From: d:oug  Read Replies (2) of 811
 
Robert,

I contacted e*trade where i brought my gpxm shares
and asked under what conditions another person
could short my shares, and the man said that since
I have a cash account my shares cannot be shorted.

He said those with a margin account can have their
shares shorted unless they specify for it not to be,
and he said that when one opens a margin account
that the form filled out has this question asked.

ok, but if that question was asked then why do i get
the feedback from folks with margin accounts that
they are clueless on if their account can be shorted.

Maybe its because few know what a short is,
and maybe the way the question is asked
most folks say yes/ok to it thinking its for their good.

Botom line it seems is that a cash account cannot
have it shares shorted, but a margin account can
yes, but you can tell your broker not to allow shorting
on your margin account.

Since most people would rather leave the certificates
with the broker so that they do not have to worry
about losing them and not being then able to mail
them in for a sale, lets ask all people with margin
accounts to only inquire if their account is flagged
shortable or not, and if so then take off that right.

doug
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