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Microcap & Penny Stocks : JAWS;A P/E of 2 with 150%/yr Erngs Growth!!
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To: Ron Harvey who wrote (2302)8/10/1998 10:01:00 AM
From: Harold Finstad  Read Replies (1) of 4230
 
Ron, For every sell there must be a buyer and visa versa. Initially it will be a Market Maker, who may in turn trade it to a brokerage firm for a retail client. Rarely do MM's get very much long or short, they simply work for clients.

One common tactic for short sellers that feel they can make a quick trade is to do a naked short. It doesn't make any difference if the stock is on the BB or the NYSE. They simply sell the stock and their broker marks the ticket. "Stock Not Long In The Account". They cannot stay in this situation for more than a month or two, but what a lot try to do is "roll" the position into another account by covering their own short with a new one at another firm. This may buy them another month or two, but that is about all. Their hopes are that the purchasing firm will find certs from someplace else to accommodate those who demand delivery.

There really is no way of knowing in any stock what the naked short position is. In marginable stocks, the legitimate "borrowed" short position is reported. Nakeds are not. Since BB stocks are not marginable, there is no report made on a short except Market Maker shorts. Which do have to be reported. MM's are allowed to short to maintain an orderly market.
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