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Non-Tech : Any info about Iomega (IOM)?
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To: slipnsip who wrote (10269)10/27/1996 3:39:00 PM
From: Andy Chen   of 58324
 
there are two kinds of shorts:

1) retail shorts. people like average day joes you and me. we call our broker to ask for permission to sell short a stock when we feel they are "overvalued."

2) wholesale shorts. professional short raiders, institutions, market makers, and brokerages.

"I am entertained to see shorts advertise that they are short and then go on in their posts to explain that they really don't have any comprehension of what they have just done."

average day joes are probably the ones you are referring to. retail shorts dont have any idea where the stock they just borrowed really came from. they just borrow.

wholesale shorts are usually brokerages, they know where they borrowed the stock. (i.e. their client's accounts.) these dudes are supposed to know all the stuffs about short selling, such as short rebate, short interest, overall float, etc.

float is usually obtained by subtracting the short interest from the total out/standing shares. this number usually represents how "many" more shares short sellers can borrow before they break the law.

someone please correct me if I am wrong, I believe whole-sale short sellers (i.e. your broker) don't have to pay interest on the stocks they're shorting. they only have to deliver dividends. whereas, retail shorts, such as everyday joes you and me, have to pay our brokers interest money when shorting.

good regards.
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