To: tradesman who wrote (2464 ) 12/2/1997 11:41:00 PM From: RBM Read Replies (1) | Respond to
Well my man, I would agree that you are a country boy that has no idea what real big money does when it is real greedy and wants to take you (the small investor) to the rack. Illegal short selling is basically when a MM shorts the hell out of a stock, sometimes to the point where the certs no longer exsist. When shares are in cert form, not in street name, they cannot be shorted anymore. Once the short has to cover if you own the share in cert form, you basically command your own price. Supply and demand, kind of neat huh. Anyhow, the way this stock shot through the roof definitely suggests that a rather large short was held. Furthermore, it is my understanding that it is illegal to short sell pennies. However, many Market Makers don't give a rats azz and do it anyway. The NASD already admits that MM's churn between themselves to create the illusion of volume, there by making some investors think something is a good buy, when really it isn't. I don't really know, by your sarcasm what you do or don't understand, but if you look, you will find many examples of short squeezes throughout the history of the market. People can also be short through Canada, and of course if you got enough money you can be short here. Heres the nice thing, if the float is held by insiders and a few strong hands, like Mr. Smith, I think, soon enough, shorty will run out of extensions, maybe he is covering as we speak. Heck, the price is low. This company has some real potential, and some real good business's. People don't do enough research when they get into these things, and then they want to blame somebody, or don't want to look themselves. This stock is definitly worth more then uh, .30 cents.
