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Microcap & Penny Stocks : ATTP Affordable telecom -- Ignore unavailable to you. Want to Upgrade?

To: Brad who wrote (258)	6/26/2000 3:46:00 PM
From: LORD ERNIE	Respond to of 580

Normally it isn't allowed to short a stock with a price below $2 (IMO) If there is really shorting we can complain to the NASD regulation office. For more detail and maybe the rules go to nasdr.com

To: Brad who wrote (258)	6/27/2000 1:08:00 AM
From: LORD ERNIE	Respond to of 580

some rules about shorting: see also : sec.gov SHORT SALE A short sale is an investment strategy used usually by experienced investors. The mechanics of a short sale are complicated and the investor's risks are high so it is important that people understand the transaction before getting into it. A short sale is the sale of securities that are not owned by the seller but are promised to be delivered. The seller plans to buy the securities, which he will then turn around and sell, at a price that he hopes will be declining so that the price he pays will be less than what he sells them at. His profit is the difference between what he paid for the stock and what the buyer pays him. When an investor "sells short" a security, a broker either lends him the security or borrows it from another customer or brokerage firm in order to make delivery to a buyer. A short seller owes the lender of the securities any dividends or rights declared on the stock during the course of the stock loan. Short selling is subject to certain rules. First, all short sales must be made in a margin account. In addition, short sales of securities listed on an exchange must be made at a higher price than the previous sale (a "plus tick"). Or, a short sale has to be made at a higher price if the two previous sales were at the same price but the price before those was lower (called a "zero-plus tick"). A similar requirement is being implemented for the over-the-counter market. Here is a simplified example of a short sale: Mr. Smith tells his broker that he wants to sell short 100 shares of XYZ Corp. at $10 per share. The broker borrows 100 shares of XYZ from the account of Mr. Jones, sells them for $1,000, and credits the proceeds to Mr. Smith. Mr. Smith has to leave the proceeds, plus an additional 50 per cent, in his margin account. He now owes his broker 100 shares of XYZ. A month later, the price of XYZ Corp. drops to $5 per share and Mr. Smith instructs his broker to buy 100 shares of XYZ at a purchase price of $500. The broker buys 100 shares, returns them to Mr. Jones' account, leaving Mr. Smith with a profit of $500. Clearly, short selling can be profitable. Nevertheless, the strategy is risky because there is no guarantee that the price of a short stock will drop. If the price goes the other way, the investor still has to cover the short sale and pay the market price, which could be much higher. And there is no limit on how high a price may rise. For instance, if the market price of XYZ Corp had risen to $20 per share, Mr. Smith would have had to pay $2,000 for the 100 shares of XYZ to cover his short sale, and would have lost $1,000. If you have any questions on short sales, or the obligations of the seller in such transactions, you may contact the Office of Consumer Affairs, Securities and Exchange Commission, Washington, D.C. 20549.

To: Brad who wrote (258)	6/29/2000 1:22:00 AM
From: Katie Kommando	Respond to of 580

Brad . . . I know you follow ATTP closely. What are your thoughts on the recent trading and the current price? TIA, Katie K.

To: Brad who wrote (258)	7/1/2000 3:57:20 AM
From: LORD ERNIE	Read Replies (1) \| Respond to of 580

IMHOBNC the short selling is past time. Strange day for ATTP, no activity after 12:30 !!!!!!!!! Some news coming out shortly???? Could be an interesting half of a day monday before the holliday !!!!