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Biotech / Medical : Biotech vs. Shorts -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (72)	7/28/1999 3:19:00 PM
From: LLCF	Respond to of 427

MM's do have to borrow shares... but you get quite a lot of wiggle room... I've been "called" on my shorts and futzed around for 10 days or more while getting notified each morning. "Yea, O.K. no problem"- on the other end is some margin clerk who doesn't even know you've been notified like 5 times already. DAK

To: Biomaven who wrote (72)	7/28/1999 3:29:00 PM
From: scaram(o)uche	Read Replies (4) \| Respond to of 427

>> Bottom line here is that we will probably never know what has been happening << Oh, yeah, that's real satisfying. :-( >> I'm not actually certain if a MM even has to borrow shares to short. << I think that's sort of fundamental to further discussion, no? I mean, if a MM can short without borrowing shares, then the entire concept of caring about shares outstanding can just be blown out the door. Shares issued...... 10 million. Shares trading....... 14.4 billion, and growing. Sorry, I would say that it's unlikely that MMs can short shares with no regulation. However, since I know squat about trading regulations, I'll also squirm and hedge. Not implying that anything illegal has been done here, but.... (1) I know that lots of the shares that have traded in the past month have been from new demand, and (2) we (several shareholders) haven't been able to identify a selling institution. I therefore suggest that "we" write the SEC and ask them to use this period of trading for GLIA as a "case study", such that small investors can understand this sort of situation in the future. As you know, I've been trading biotechs for a long time. This issue is being manipulated in a fashion that is new to me. Granted, it's a gift, a gift that will be very profitable. Nonetheless, I feel compelled to understand it.