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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (104231)	10/17/1999 6:11:00 PM
From: TsioKawe	Read Replies (1) \| Respond to of 119973

Found this on another thread - about Canadian shorting. siliconinvestor.com. To: Jeffrey L. Henken who wrote (5582) From: Jeffrey L. Henken Friday, Oct 15 1999 7:46PM ET Reply # of 5586 SHORT COVERING COMING SOON? I have confirmation that those who have been shorting stocks in Canadian accounts will have to cover and soon. This particular post covers how this will affect OTC BB issues: Message 11553859 However this extremely interesting post details the probability that stocks like CCSI will also see a lot of short covering soon too. Why? Naked shorting... it is illegal... but it has been happening in Canada. Read this as it shows you why it just might be stopping soon: EFFECTIVE IMMEDIATELY U.S. NAKED SHORT SALES ARE PROHIBITED. THIS IS AS A RESULT OF REGULATORY CHANGES BEING FORCED ON BY NATIONAL SECURITIES CLEARING CORP (NSCC) IN THE U.S. IF YOU HAVE CURRENT SHORT POSITIONS THAT ARE NOT COVERED BY BORROWED STOCK THE POSITION WILL BE BOUGHT IN WITHIN THE NEXT 10 DAYS. CHECK WITH THE LOAN DEPARTMENT TO VERIFY IF THE POSITION IS COVERED. IF YOU INTEND ON SHORT SELLING YOU MUST CHECK WITH THE LOAN DEPARTMENT PRIOR TO EXECUTING THE TRADE. IF IT CAN BE BORROWED WITHIN OUR PRESCRIBED BORROWING LIMITS WE WILL ENDEAVOUR TO BORROW. IF IT CAN'T BE BORROWED YOU CAN'T DO THE TRADE. FURTHERMORE, ANY OUTSTANDING SHORT POSITIONS FROM A LONG SALE WHICH IS TO BE DELIVERED IN WILL BE BOUGHT BACK ON SETTLEMENT DATE IF THE STOCK IS NOT RECEIVED. IF THERE IS GOING TO BE A DELAY IN RECEIVING THE STOCK, CREDIT AND OR COMPLIANCE MUST BE MADE AWARE OR WE WILL BUY IT BACK.