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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1164)	6/16/1998 10:42:00 AM
From: Carl Yee	Respond to of 2506

John, Matador, etc.: Thanks to everyone who is adding some clarity on the PAMCE situation. Besides being on the right side of this short, it is enlightening to learn about how to get the info and complete the short when we are ready.

To: Q. who wrote (1164)	6/16/1998 1:17:00 PM
From: El Matador	Read Replies (1) \| Respond to of 2506

You are correct regarding delisted securities. Your broker or Market Maker has to find another MM willing to sell via the phone. However, since this PAMCE has traded on Instinet today, there will be execution prints on the sell side of Instinet. What you need to do is tell your broker to preference these (anonymous) sellers with bids that you are willing to pay. In other words, since the stock traded around 4 and change, find the seller at 4 1/2 or 4 3/8 and bid him those prices. Usually, they will respond with a counter offer or no interest. You might have to pay up as well. This is where it gets tricky (showing your cards). At least this will give you an indication rather than searching all over the street for interested parties. Question-have you thought about "boxing" your positions? Keep your short and long! When or if the stock bounces up, sell your long (kick out a leg)and then ride it back down to wherever you think it's worth, if it is worth anything. Then again, you could live by my motto, never cover a GTO (Go to Zero)!