Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

PRST 0.0001000

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Sep 29 10:16 AM EST

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To: Richard F. Hubbell who wrote (787)	7/16/1996 8:44:00 PM
From: Bryan Dugas	of 11098

Richard, There is an interesting article on short selling in this week’s (July 22) Fortune Magazine (Pages 66-72) that may explain the recent increase in PRST market makers. In the article, it explains that marker makers DO NOT have to abide by the “affirmative determination” rule, which in the article is defined as “An investor selling short must supposedly ascertain, through his broker, where he is going to borrow the stock that he has, by his sale, promised to deliver”. This is supposed to prevent “naked short sales”, but the rule doesn’t apply to market makers. Later in the article, it states “As a result, a firm will sometimes claim to play that (meaning market maker) role, even though its real intention is shorting.” This may explain why we went from 4 MM to 14 MM. Any Comments? Bryan

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