frick. i like you, but I do not know any broker that will loan your week old certs, and if they did; tell you so.
then again, i am sure your broker is one of a kind.
I challenge this topic:
I can, on monday, go open a margin account and stake it with 1000 shares of International Paper Company, and go and short any type of stock account I want, including my own.
If I get lucky, and are presented an unidentified account holding 200,000 shares of a BB stock named LONE, and It happens to be fricks, then I will have shorted fricks street name account and the broker is under no obligation to indicate such to frick.
I frick sells his account ten meinutes later, than I am going to get a phone call to cover and close out.
As for presence...... I contend that drying up shares out of street name, forces brokers to authenticate "inhouse volumes" of a certain stock, insted of selling a simple 10,000 shares to joe joe; of which those same shares are sitting "in house" under jay jays name.
Now, anyone want to debate that any broker may "fill" any order with shares already "in house " under any cash account and not go outside to the street for shares. this is risky and not normal, but possible; and this is what we LONE shareholders are trying to eliminate.
lets stop the bullshit.
frankly, I have seen tooo many times where BB trades are not "fullfilled" until sold. Fulfilled means that they were never bought betting against the smarts of the cash account and or are just tallied under in house avalability.
Now ,as for all this debate, let me suggest that if MMs and brokers can only obtain avalable shares from their own inventories, that this will rresult in a more proper value for a stock instead of the puddle of street name shares sitting like diamonds in the rough and no reason to be valued.
In addition, if accounrts have been illegally shorted offshore, and those certs are called by the owner, THEN the shorter needs to cover.
simple.!
good luck |
