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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (2706)	6/4/1998 10:08:00 PM
From: BarbaraT	Read Replies (3) \| Respond to of 8798

Does anyone know how to access PSI's chatroom at mIRC. There is no information at the website. Thank you.

To: Dave Gore who wrote (2706)	6/4/1998 10:15:00 PM
From: STEAMROLLER	Respond to of 8798

dave, i'm speechless.

To: Dave Gore who wrote (2706)	6/4/1998 11:31:00 PM
From: John Fairbanks	Read Replies (2) \| Respond to of 8798

Dave, FWIW changing a company name will not force the covering by any naked short shares. OVIS changed to RMIL and it didn't do a darned thing. I was actually there for the OVIS thing and made a pile on it, and then got out before it got halted because of an absolutely wonderful book from the folks at Wiley Press called "Selling Short - Risks, Rewards... and something". If you search for "selling short" at Amazon you'll find it. A fantastic book but a little pricey. Anyway, the book actually details several encounters between shorts and longs through the last century. In every case, if the shorts absolutely refused to cover the final result was the same -- the stock was halted, delisted, and the people who faught to squeeze them went away losing nearly everyting. Why? Market liquidity is too important to sacrifice over something as simple as right and wrong! ;-) The book made me look at short selling in a completely different light -- it actually works to everyone's advantage that it is a part of the market. Maybe this naked shorting in BB stocks should be better regulated, but the bottom line is that the "naked shorting" cry is often lifted by companies who can't crush the short position through honest means like making money and moving to a better exchange. If a company REALLY is making money nobody is going to leave a short position out there very long. These days when I hear about a stock being naked shorted I slate it as a great candidate for a quick run up and dump... simply because psycologically if investors really believe the short squeeze story they will hold stronger and it means a better run up for me to sell into -- OVIS never would have gone from .20 to over $4 at one point if it hadn't been for a small float and a bunch of us who "believed" who refused to sell.... $4 for a company that only had about 200K in revenue when they finally put put an 8K.. so much for 1MM a month in revenue which management had claimed. Sorry for the long post ;-) Hope it at least was worth reading!