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

To: Ken Brown who wrote (129)	9/8/1998 3:58:00 AM
From: Q.	Read Replies (1) \| Respond to of 172

Ken: I wonder if it's possible that shorting the xxxxR rights in a rights offering would always work. For example with CEF's. Usually the rights are in the money, so people will exercise them. But some people won't, because they aren't paying attention or don't know what they are doing. If your broker always has enough of the unexercised rights, you could borrow them right up till they expire. Even if they expire in the money.

To: Ken Brown who wrote (129)	9/15/1998 12:26:00 PM
From: Ken Brown	Read Replies (1) \| Respond to of 172

If it turns out to be not too difficult to close this position out SIEBR, again. I finally called Datek and asked them if I could get out of this position. They said "no". They are currently worthless, but I still can't buy them from anyone (even for 1/64). I have to again wait until the end of the month (and I don't think there's anything that stops SIEB from again extending their trading at that time). It's a bit troubling, as SIEB's price has been climbing recently. No shares traded yet today, but the ask is 7 1/8, which is considerably above the price it was a few days ago. So, looks like this isn't going to be easy after all. But, it is interesting. Ken