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

To: Andrew Martin who wrote (213)	1/10/1999 3:15:00 PM
From: Mama Bear	Respond to of 257

Andrew, I have never heard of a broker who allows a short sale in a cash account. I am an experienced short seller. My initial positions never exceed the cash in my account, but it's still a margin position. "He was probably betting on the pink sheets and that's likely why he didn't cover. Regardless, he showed poor discipline. His published target was 3, and if he didn't cover when he had the oppportunity, he simply succumbed to greed. "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." Pure speculation on your part. He may have favored clients that didn't cover. I also don't know how you can say that he shorted at 8. The only position I'm sure of on his part was that he opened previous to his initial short sell rec, which puts the price over 15. The rest of his positions are unknown to everyone but his clearing firm. Barb

To: Andrew Martin who wrote (213)	1/10/1999 3:22:00 PM
From: Mad2	Read Replies (1) \| Respond to of 257

All shorts are considered "on margin" due to the unlimited loss potential. This is why you can't short stock with a brokerage account that isn't margin enabled. The issue of how much cash need be allocated towards a given short position depends on both the brokerage account and the stock. With Datek and stocks that "marginable" they require 30%. In your past situation with EBAY your brokerage probably had EBAY in a no margin category requiring you to be able to cover with 100% cash. In this case even though the brokerage indicates the stock is non marginable, it still can only be shorted with a margin enabled account.