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Non-Tech : CyBerCorp.com -- Ignore unavailable to you. Want to Upgrade?

To: Skyvet who wrote (232)	2/9/2000 11:21:00 AM
From: Dave Triplett	Read Replies (1) \| Respond to of 1001

After talking with schwab many times there is a possibility of order review with cybercorp. This would mean delays in knowing your order status for several minutes. I hope this doesn't happen. You know you can not daytrade very well with 5 minute reviews of orders.

To: Skyvet who wrote (232)	2/9/2000 11:30:00 AM
From: just bearly	Read Replies (4) \| Respond to of 1001

I have become increasingly frustrated by the lack of shares available to borrow for shorting at Cybercorp. It seems that availability has significantly decreased since January 1. One thing that seems to have changed is that Cyber is removing shares of stock to borrow to manage their risk. This occurred with ANDR, MCLL, and BBII. On Friday morning there were 2000 shares of MCLL available to short at 9-9:15 am. By 10am those shares had been withdrawn with no announcement. I called to find out why those shares had been removed and was told there were never any MCLL shares available to borrow and an error must have been made in including it on the short list. When I asked if Cyber had removed the shares to "manage their risk," as they had done with ANDR, I got the same robotic response of "there are no MCLL shares available to borrow." This morning (Wednesday) 500 shares of BBII to borrow were removed. I rarely if ever experienced this problem last year. I heard that Cyber had a problem with some traders who had short positions that went against them severely, resulting in blown out accounts. My guess is that this is the motivation for removing shares of these stocks to borrow. This is very disturbing to me. I don't like my brokerage making trading decisions for me, which is essentially what is happening. I can accept Cyber covering a short position on me that threatens to wipe me out or leave me owing them money, but I cannot accept them deciding for me that a stock presents too much risk for me to short it. That must be exclusively my decision. I can guess that Cyber will say that is not what is going on here. Although a fellow trader was told point blank that this was the case on ANDR. If it's not then I don't understand why shares to borrow have suddenly become so scarce this year. I know people who trade with Schwab, and they tell me that Schwab's short availability is lousy, worse than Cyber's even. So I don't see how Schwab buying Cyber is going to help us get more shares to borrow. I am going to have to look elsewhere soon since I almost exclusively short. The lack of shares has already cost me too much in missed profits this year. just bearly