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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: JERRY GACH who wrote (29085)12/7/1997 5:36:00 PM
From: Bill Jackson  Read Replies (1) of 35569
 
Jerry; The short position that gets published by the exchange does not show many of the shorts. It includes only client shorts and not phantom shorts.
Let us say you have an account in the Cayman islands, you sell some XYZ and your broker borrows it from ??. If he does not declare that short, no one can find this out. Thus the short position looks nice and small. In fact it can be quite large, equal to 1-3 weeks of trading with those methods. Woe betide the shorts if the stock hits a gusher/gold/diamonds, as they will be caught short bigtime. So they will not do it unless they have a high confidence level they will not get caught short(ie shorted a good stock that will go up)

Clearer?

Bill
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