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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (7872)	11/14/1997 10:09:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 18056

My short positions are pretty straightforward and were executed with no difficulties by Quick and Reilly. I am short "against the box" for some blue chips that are about 80% or more capital gains, having been held since 1974, and which I do not wish to sell because of the large tax liability and because they are good companies. But I think they are over-priced. On these I make no profit ot loss until I close the short position. I am short SPY, the S&P index. Finally, I own BEARX, a fund that shorts an array of high p/e high risk stocks. About 25% of my net worth in this way is concentrated in short positions. This is different from shorting a single highly volatile stock with no stop-loss cover order.