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Pastimes : Asensio** King of the Shorts - LET'S RUMBLE! -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (212)	1/10/1999 3:12:00 PM
From: Andrew Martin	Read Replies (3) \| Respond to of 257

Barb. Quite to the contrary most shorts -who haven't Jumped yet, short with cash. It is done with either a cash-only account or by holding an equal or greater amount in cash against what is shorted -to cover appreciation against the short. As an example, I shorted Ebay at 86. I maintained an amount of cash in the account which equalled 2x the value of the short at the time it was executed. I then put in a stop limit cover order for 173 -to be purchased with the cash reserve, to close the position in case "disaster" struck. Well, we know the story on Ebay (and my $$$) don't we. As for Asensio I believe he shorted two positions. One at around 16 and another around 8. I really hope he didn't short on margin. I doubt he did. He was probably betting on the pink sheets and that's likely why he didn't cover. As you know many institutions do not finish the year with a delisted stock on their books. They sell-off the delisted stocks in December. Maybe A was playing a waiting game. Well, he snoozed so... As for ABTE being "moot", no way Barb. If there is p.r. spamming by Asensio it means he hasn't covered. He hasn't done so because he can't -there's not enough retail sellers. He likely has an institutional bear trap set-up against him at 5-7. The purchasing in that range was unusual and (for several reasons) indicated institutional buying. Unless the market tanks it's gonna get real ugly for him this week. I 'feel his pain' but since I've always liked ABTE I can't justify his selling it.

To: Mama Bear who wrote (212)	1/10/1999 6:23:00 PM
From: The Street	Read Replies (1) \| Respond to of 257

What is this "King of the Shorts"? Does this company plan on competing with Fruit of the Loom or Tommy Hilfagger?

To: Mama Bear who wrote (212)	1/14/1999 12:36:00 AM
From: Q.	Read Replies (2) \| Respond to of 257

Barb, re. <<by their very nature all short sales are on margin>> Well, that's not quite right. You do not borrow money to sell a stock short, the way you do to buy a stock. In fact, your margin account and your short account are entirely different. Here's an example of what happens. You sell the stock and you get the cash proceeds. Suppose you sell 100 shares of National Fish Wrap short at $10. Your short account then has a $1000 cash credit, which is offset by a $1000 equity debit. So there's no net effect on the value of your account. You do have to have a margin account, though, but only because the shares won't stay at $10 forever. If the shares of National Fish Wrap go up to $11, the broker needs to come up with $100 from somewhere to put into the cash credit for your short account, to make the cash credit equal to the $1,100 equity debit in the short account. The place where he gets that $100 is by taking it from your margin account. If necessary, he makes you take a margin debit (i.e. a loan) to do it.