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Microcap & Penny Stocks : IELSF-Flight to Fortune Or?
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To: Intrepid1 who wrote (420)10/16/1998 12:15:00 AM
From: Carl R.  Read Replies (1) of 520
 
They probably didn't violate the uptick rule. What they probably did was after shorting a certain amount, and then getting shares in a conversion, rather than applying those share to the shorts already out, simply left the shorts in place and sold the newly converted shares, avoiding the uptick rule.

Carl
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