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Technology Stocks : Xylan
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To: E_K_S who wrote (3472)11/18/1998 3:14:00 PM
From: Steve Hursey  Read Replies (1) of 4135
 
I don't post much on SI anymore but thought I would add my two cents on shorting. Given the large short interest it is highly likely that there are no more shares to be borrowed for shorting. It is too bad that there is such a large float for XYLN because there is an easy way to make them cover, but it requires consistent shareholder action. The action is to demand that your brokerage firm issue you the actual share certificates. When you do this, the brokerage has to go to those who borrowed your shares from your margin accounts to short and demand that they return them; that is buy them back on the open market. If enough shareholders were to do this, there would be a tremendous price increase as the shorts get squeezed as they are forced to cover.

Now if a couple of large institutional holders would do this, look out! It is nice to dream, anyway!

Steve
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