Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: jlib who wrote (90962)	2/19/2005 1:45:55 AM
From: Jeffrey S. Mitchell	Read Replies (1) of 122087

Ah, upside down and naked? Still not sure how their technique helped them hide their position. When you short a stock that goes up, you can face some pretty severe margin calls. The Cromwell Broker trio apparently covered their short each day by balancing it with a manually entered buy at the end of the day on their clearing broker's computer system (thus balancing their account out on paper) which they then manually cancelled the next morning the same way, leaving their clearing broker none the wiser. When the short was finally uncovered, the margin call was horrendous. I'm not sure how you infer that the short was naked nor why it would matter with a Nasdaq listed stock like Excite. And, no, this isn't something you can do at home. - Jeff

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