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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (4014)	12/23/1998 2:11:00 PM
From: h.l. meeks	Read Replies (1) \| Respond to of 4969

Steve: I have been trading UBID over the last 3 days and have a couple of questions relating to the float of IPO's, and the market maker in the stock. 1. How many days post-IPO can the public take a short position? (UBID's been trading about 3 weeks) 2. UBID has traded about 20MM shares over the last 4 sessions with a float of 1.5MM shares. I realize there's alot of turnover and daytraders in the stock, but doesn't the market maker have to be "short on paper" in order to sell shares they don't really own and to maintain order flow? My assumption with UBID is that the public is basically squeezing the market maker, and that there's no short position held by the public. If so, how does the market maker recoup a short position that's skyrocketing into new highs everyday?