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To: Pugs who wrote (2798)5/15/1998 12:30:00 AM
From: TopCat  Read Replies (2) | Respond to of 6528
 
Pugs,

You've got to be kidding or just displaying your ignorance. I didn't say that the rules in Reno or Vegas were the same as the rules in the BB market....I only indicated that there were "rules" or "norms" and that if you want to play....you ought to understand them....legal or not.

BTW, I have not seen anyone post anything that suggests that MM's are doing something "illegal" when they "naked" short. It would appear that from a post that Ellen recently made (and wouldn't respond to my question) that by being a MM, you can legally short a stock without being sure of your ability to cover that short.

But that doesn't really matter. The point is, this is how the BB market currently works...understand it and invest accordingly...that is my advise.

TC