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To: Grantcw who wrote (352)1/16/1998 11:10:00 AM
From: craig crawford  Respond to of 1219
 
<< Yeah, I think its house rule. I know that some brokerages allow shorting once a stock hits 4. I
just thought I'd let you know what's going on in case you had forgotten about FIBR. >>

First of all the stock has to be declared marginable by the Fed. Right now FIBR is listed as a marginable stock I believe.

Then yes, there are house rules. Some margin departments might let you short depending on the volatility and other factors like your account status. It is up to them.

Since FIBR didn't open above $5 my broker said that I could contact the margin department and see if it was possible to negotiate a short sale if there were shares available to be borrowed.

Having said that I probably won't hassle with it today, but I will be keeping my eye on FIBR becuase I definitely want to short it again.

It's a no brainer...



To: Grantcw who wrote (352)1/16/1998 11:43:00 AM
From: craig crawford  Read Replies (1) | Respond to of 1219
 
I tried one of my other brokers and discovered that FIBR was shortable. Of course that was a 10 or 15 minutes ago when it was higher.

The reason why I haven't shorted FIBR the first chance I got is due to 2 reasons.

A) I haven't paid too much attention to the company lately so I have yet to uncover how mangement is hyping up the price this time

B) Since I haven't discovered the impetus for FIBR's move I cannot determine when it will cease to occur.

I need to know those two things before shorting it. I will spend a little time looking into it.

BTW, I'm happy that you are making money on FIBR. I don't wish for FIBR followers to lose money. (Except maybe Barb! who needs to be taught a lesson).

I'm happy you stumbled upon FIBR around 2 1/2. Just remember that many FIBR followers are involved with this stock at prices closer to 10 or 20 so 4 3/4 only lessens the sting. Any company can make their stock soar temporarily. Let's see how long it lasts.



To: Grantcw who wrote (352)1/21/1998 11:36:00 AM
From: craig crawford  Read Replies (1) | Respond to of 1219