K-Tel (KTEL) Have the cheesy '70s records come to an end? Message Board

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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end?

KTEL 0.250

+6.8%

Nov 24 3:28 PM EST

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To: DBen who wrote (504)	4/21/1998 3:57:00 PM
From: LoLoLoLita	Read Replies (1) of 3203

>>CNBC reported that many of the shorts may be naked shorts. >>Some brokers apparently allow you to short naked. >>Stock must be delivered in 3 days. Dale, Pretty Maria knows better than that! Anyone with a regular brokerage account (e.g. Waterhouse) can sell shares that are not held in the account: they have three days to deliver the certificates. It's the same as delivering cash after a purchase. But, if you sold short, you don't deliver certificates. Some people with cash accounts keep their shares in a safe deposit box, register with the company, and get their dividend checks in the mail. Hard to believe? Naked short positions can result from writing (or selling) uncovered (or naked) calls, where you don't (yet!) own the shares. Most "small fry" are not allowed to have this level of option trading. It can result in large losses. David

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