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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Carl Yee who wrote (1158)6/16/1998 9:06:00 AM
From: Q.  Read Replies (2) of 2506
 
re. PAMCE, I talked to the director who handles IR - he said trades yesterday were through 'Instanet'. He's working right now on getting a BB listing, he said.

I discussed with him the prospect of getting relisted. He said he was 'very much aware of the listing requirements'. He knew that they must meet new listing requirements, with the NTA requirement. He said he hopes to meet the new listing requirements for National Market. I pointed out that this requires at least $6 M of NTA, and I asked if meeting this requirement might entail smaller asset writeoffs than he had previously indicated in a news release as forthcoming in the delayed 10k, he said 'it entails a lot of things.'

Can anybody tell me how instanet would work for covering your short? I've never knowingly used it. Can you specify to your broker that you want to make an instinet trade? If you place a limit order to buy at a low price, would anybody see your offer?
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