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To: MARK C. who wrote (21772)8/14/1998 9:59:00 PM
From: RocketMan  Respond to of 50264
 
<<And I still dont think it's legal with a BB stock which is what was being discussed>>

I don't know of any registered broker who would admit they have borrowed shares from an individual investor in a BB stock to short, and later cover, keeping the transaction in that individual investors' account. However, unlike Paul, I do not claim to have any legal expertise and I never give investment advice. So I think I will call the SEC Monday morning and ask them for their professional opinion on Mr. McGinnis' advice.



To: MARK C. who wrote (21772)8/14/1998 10:05:00 PM
From: paulmcg0  Respond to of 50264
 
The broker was E*Trade, and there was no problem with settlement dates, since the shares were already in my account. As I pointed out before, there is nothing I could find that would prohibit you from shorting an OTC BB stock, if your broker could legitimately borrow the shares from some place.

Paul M.


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