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To: Hoatzin who wrote (67)	10/4/2001 8:53:20 PM
From: jbIII	Read Replies (1) \| Respond to of 142

You can "buy," "sell," "sell short" and "buy to cover F'rinstance, if you have a margin account, can you pick from "buy" and "sell" as transaction types, or "buy," "sell," "sell short" and "buy to cover"? And a grub?

To: Hoatzin who wrote (67)	10/4/2001 9:37:05 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 142

I have not sold short in quite a long time Kevin, but I know it's clear that it's a short sale. You have to declare it merely because (aside from the Index Stocks like the Spyders) you may only short on an uptick. But whether or not the person who executes the trade for you actually tabulates it electronically as a short sale right away is something I do not know. I have not been in a trading room in 6 years; back then it was done on paper. That is to say, you made the trade by phone or Instinet or Level III and the record was written on a ticket. Those tickets could still be waiting for database entry for all I know.

To: Hoatzin who wrote (67)	10/5/2001 8:31:11 AM
From: Don Pueblo	Read Replies (1) \| Respond to of 142

Yes, every transaction anyone does is noted in that fashion, a short sale is easily distinguished from an exit from a long position. I think the reason for the time delay in reporting these things is simply to give the people that executed the trades (long, short, entry, exit, whatever) and the people that initiated the trades enough time to make it make sense "on paper" before they report it...but you are right, there could easily be a shorter time span between trade executions and reporting of same to the regulatory agencies. In other words, to start off with - no change in what is being reported ( like short interest), but a big change in the deadline everyone has to report it. That one thing could make a big difference. The "problem" with reporting short interest is that the people that loan the shares to be shorted are not overly excited about divulging all their activities in a real-time environment, just like the guys that buy long are not interested. For 200 years, these guys have kept their business pretty much private - the rest of us find out some of what happened after 30 days. They are now faced with the fact that the Internet has screwed up their program to the degree that ANYONE can make a market in a stock and they have lost total control.