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Non-Tech : Any info about Iomega (IOM)?
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To: Neil McFadyen who wrote (6763)8/29/1996 11:55:00 PM
From: Rick Mortellra   of 58324
 
Neil, the mechanics of a short sale are quite interesting and a broker's stock loan department can be one of its biggest profit centers, especially in periods high interest rates. Brokers love short selling because of all the cash it injects into the system. And, as is usually the case, what's good for the broker is bad for the average small investor.

I can only advise that if you are determined to sell a stock short and the broker tells you there's none available right now then:

1)feed him a limit order anyway and usually it will be filled within a day or so unless the stock is in a total freefall, or

2)find another broker, preferably one that is making a market in the stocks you want trade. There's always stock available somewhere. If you're a big customer, they'll even hire a "finder" to get you some.

Be careful and good luck!
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