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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: AL who wrote (1565)	11/24/1998 5:34:00 PM
From: waldo	Respond to of 37507

>>How do you know these are short sales?<< The word "Short" has many meanings...in this case Yorkton has a very good pro trader designated by the TSE to trade BII in an orderly fashion. All TSE deals have 2 or 3 or pro traders. I have identified Latimer as one also. When they say "Short against the box" it means that the traders inventory is loaded up with cash to take care of some large(sell) order that might show up without throwing the stock into a tailspin. The purpose is to mantain stability and liquidity. The box is not to make money...usually the box account breaks even, or makes very little at the end of the month. As far as the short shares in the net house position goes...they settle this stock at a dollar profit or whatever, then take down(exercise) the warrants, and give the proceeds to the company for working capital. This is a good deal for Yorktons clients as their original position is replaced and they have some extra cash to do whatever they want with it. If they like the deal...they usually only sell enough to pay for the warrants, and keep the rest. Yorkton has done 3 back to back(financings) deals..so you can see how attractive this is in terms of leverage. There are 2 other types of shorting, legal(most common) and illegal, where they hit the bid and kite delivery of certificates sometimes for months. W