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Gold/Mining/Energy : Petrokazakhstan Inc. -- Ignore unavailable to you. Want to Upgrade?

To: daneo who wrote (1169)	8/9/2000 10:07:10 AM
From: forecaster	Read Replies (1) \| Respond to of 2357

Naked Shorts Cover Naked A's. TORONTO(This day has 6 1/2 hours) Panic-stricken short sellers of the class A common shares of Hurricane Hydrocarbons Ltd., of Calgary, are bracing themselves for a tough time, following a rash of unwise short trades in recent weeks. Short selling is a highly speculative operation done in the belief that the price of a stock is going to fall. The short seller typically feels bearish towards a particular security that he does not own, borrows the security from a broker, sells it and preys to buy it back later at a lower price to make profit. However, the dangers of short selling are often considerable. The most feared among them is the theoretical possibility of unlimited loss if a shorted stock starts a dramatic rise in price. There is no maximum loss as there is no limit as to how high the price of a stock can advance. Precisely this situation is feared by the short sellers after the oil and gas company announced yesterday that the long awaited second quarter financial results will be released following the market close on Thursday, August 10. Hurricane Hydrocarbons is widely expected to match other oil companies and reward their shareholders with similarly robust earnings. Forecaster