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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: Thu Ra Tin who wrote (1958)	11/28/1997 12:42:00 PM
From: Carole	Respond to of 11708

According to Internet Trader, which is a little behind, last 5 trades have been buys . those buys totalled 17,400 shares. c

To: Thu Ra Tin who wrote (1958)	11/28/1997 12:46:00 PM
From: David Smith	Read Replies (4) \| Respond to of 11708

When a shorter who is naked is caught in a price runup, he either has to cover the shares or bring money to the table. Remember, he supplied me about 600,000 shares at about .20 (isn't he sweet?) so his basis is very low, not good when he has to cover in the 1.50 range. Bringing money to the table on a stock that is running up is not going to protect him. As far as his extensions go, he's on his very last leg but the broker may try to delay the buy-in a bit. Anyway all the options (sorry for this terminology, Greg) are disappearing fast. December should be quite interesting and, yes, he still has his short position, he covered only a small amount the last week or so. David Smith

To: Thu Ra Tin who wrote (1958)	11/28/1997 1:21:00 PM
From: TraderGreg	Read Replies (1) \| Respond to of 11708

Because this particular Shorty was permitted to short because he and his broker thought, at the time, that the short was covered by a long position. When the broker learned that Shorty's "long" shares did not exist, Shorty was given the deadline. In general, a short position only needs to be covered when the certificates are called, unless the broker demands the short be covered. Certificates are gradually being delivered. IMHO, this is a request that I hope has delays because delays imply that the shorters are stalling for time! TraderGreg