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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Scott Violette who wrote (10760)	11/30/1997 9:10:00 PM
From: Cymeed	Respond to of 25960

Thanks, Scott. What the MM will do if people who bought those shares are requesting a certificate ? Can they print 140% certificates or there may be a trick that they can avoid this kind of show down ? You accessment about the status is about right. But eventually when the company shows up with earning or when the smart guys know they(Cymi) are going to show up with good earning, the stock has to move up. Good luck to you, as well as all the longs including myself.

To: Scott Violette who wrote (10760)	12/1/1997 2:36:00 AM
From: ben luong	Read Replies (1) \| Respond to of 25960

RE:>>Market Makers can short more shares than they physically have, to the tune of 140%. I don't think so. Market makers are risk-adverse people. They short stock only if they know they can buy it back at a lower price (They know perfectly well who is willing to sell them at a lower price - they have all limited open orders in their record book) They don't leave any position open overnight and normally close out their position by end of the trading day. They sometimes use options to hedge their stock position. They don't need to borrow shares like normal investors but they still need to have cash at hand to cover their position just in case. In short, market makers are perfect hedgers. They earn their living by ripping investors off 1/8 or 1/4 of a point.