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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (53230)	3/17/2000 1:43:00 AM
From: Mama Bear	Read Replies (1) \| Respond to of 122087

LPS5, I guess my broker is in violation then, as I've shorted many a Nasdaq Small Cap on a downtick, and never had any problem with it. As far as the difference between 'uptick' and 'bid test', that's just semantics. Regards, Barb

To: LPS5 who wrote (53230)	3/17/2000 7:25:00 AM
From: Arcane Lore	Respond to of 122087

In October of last year, the SEC requested comment on possible changes to the short sale rule. One of the areas discussed was extension of the short sale rule to non-exchange listed securities. The relevant section reads as follows: G. Extending the Short Sale Rule to Non-Exchange Listed Securities Current short sale regulations cover securities that are either listed on an exchange or traded in the Nasdaq NMS. As a result, they cover securities that are generally characterized by high trading liquidity. In addition, these markets have a relatively high degree of transparency. Securities traded in the OTC markets (e.g., Nasdaq Small Cap, the NASD's OTCBB, the Pink Sheets) are not subject to short sale restrictions. The staff frequently receives complaints alleging short sale abuses involving securities in the OTC markets. As a corollary to other concepts presented in this release, we seek comment on regulating short sales in this market sector. We recognize that Section 10(a) does not grant specific authority to the Commission to regulate short sales of securities not listed on a national exchange. Thus, regulations that extend short sale regulation to new market sectors would have to be adopted under other available statutory authority. Q35. Should we consider extending short sale regulation to cover non-exchange listed securities? Q36. If so, how should the new regulation restrict short sales? Does the current NASD short sale rule provide an applicable model for this purpose? sec.gov