VLVT (was CSMA) Message Board

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Microcap & Penny Stocks : VLVT (was CSMA)

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To: Thu Ra Tin who wrote (2635)	12/3/1997 3:44:00 PM
From: TraderGreg	Read Replies (1) of 11708

Now that I'm so confused, let me try and recap. Please respond with corrections where I'm wrong. I'm just trying to get to some consistency with our semantics: Covered shorting--Legal shorting against your own long position, also known as "shorting against the box". Wholesalers can do it with any type of stock; little folks can only if their stock is marginable. Naked shorting(Legal variety)-Only do-able by wholesalers whereby permission is granted by the long's broker to borrow street name shares. If the shareholder calls for their certs then the shorter has to cover. Naked shorting(illegal variety)-When the wholesaler doesn't ask for permission to borrow shares, but just shorts them as he sees them. Often times this level of shorting can result in short positions exceeding the level of the float. DO THESE DEFINITIONS MAKE SENSE TO ALL OF YOU? TraderGreg

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