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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)
MDMN 0.00010000.0%Jan 16 9:30 AM EST
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To: StaggerLee who wrote (3861)6/30/1998 11:52:00 AM
From: WHL  Read Replies (2) of 25548
 
RE: Shorting. If you believe that this stock cannot be shorted, you are sorely mistaken. MMs and friends of MMs can short this stock forever. Someone (was it GG?) had previously posted on this thread a cite to case law in which a US court held that there was NOTHING ILLEGAL about a MM selling shares short into the market, even though the number of shares sold short exceeded the total float in the stock. The court reasoned that the MM was simply trying to create an orderly market in the stock. This is U.S. law. Shorting of a penny stock by a MM is perfectly legal.

IMO there remains a large short position in this stock. Indeed- as I have said on many occasions, the recent involvement of several naysayers in this thread is a positive development. Although it has lead to a decline in the share price and an increase in negativism on this thread, it is a necessary preliminary before a short squeeze and it may just be an indicator that the shorts are feeling the heat. Covering a large short position in this stock without moving up the share price dramatically will be difficult. Please research other companies in which such covering took a stock from $.20 to $20.00- one such company had the symbol CUMO.
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