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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Michael who wrote (15530)	11/17/1998 7:41:00 AM
From: robert m. wood	Read Replies (2) \| Respond to of 18691

notified of buy in heph by datek price was up yesterday what a coincidence will be closing my datek account

To: Michael who wrote (15530)	11/17/1998 9:36:00 AM
From: peter michaelson	Respond to of 18691

Michael: Thanks for the sentiments. Datek informs me, with courtesy, attention and knowledge in this case, that their clearinghouse, CNS, made a mandatory buy-in. In other words, CNS made the trade themselves - not after-hours by the way - and then told Datek about it. Datek did not even make the trade. Does anyone know under what circumstances a clearinghouse can or would force an immediate buy-in? Any references on the mechanics of shorting, clearinghouses and the like? Peter