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Technology Stocks : General Magic

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To: Souze who wrote (9578)	5/21/2001 11:01:25 AM
From: stan_hughes	of 10081

Hello people - been watching this one for a long time nad just happened upon this morning's conversation. If you look at a R/T quote, it shows GMGC is currently restricted under UPC 11830. If you don't know what that means, read this - esignal.com To make a long story short, the restriction flags a given stock as being unavailable to be borrowed for shorting purposes. You can find the same restriction on lots of stocks at any given point in time, especially after a runup, and especially under a market maker system like Nasdaq where it's the pros that are short. The MMs will be walking the stock back down to cover their positions once the ballyhoo ebbs a little, and this rule effectively prevents any latecomers to benefit from their walk down activity. Doesn't seem fair, does it? But that's the way the system works.

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