To: WISDOM MILES who wrote (15817 ) 4/24/1999 10:18:00 AM From: Colin Cody Respond to
Yes a foreigner can short any stock he wants, whether it sells for $0.01 or $100.00, all day long if he has the financial backing to do so. There is no argument there.The market does have rules! NOT for foreigners!Any stock short must be bought back later, no matter its in America or Canada(I remember Canada is also a pretty industrized country, its not in the another planet!). Yes? so what? What does that have to do with it? The DCI shorters, in particular, do expect to cover by IMO tendering as yet unissued/unregistered shares.Although some big temporary spike may benefit further short selling by shorts, but a continuous drop of stock price will only hurt all shareholders not shorts since shorts could cover when stock price drop to make a nice profit thus enhancing its ability of future shorting. The DCI shorts, IMO, have no intention to actually buy shares on the retail market to cover, therefore the higher the price, the better. DCI shorts and Foreign shorts, like most other people in finance, have a "COST" and that cost is TIME. Time is Money. Cash is King.To break this ugly game, we need a continuous DCTC share advance day by day even with $0.01 per day and we also need investors coming in to buy at dip to make any short selling a loss. This foolhardy approach broke my request to stop all buying and break their damn backs. It was just this method that pulled the shorts back from the brink of bankruptcy and financed them to the point they they are now very well able to hire the best high-priced lawyers from all over the country to hassle the Company and its officers.To view all the complication with this stock, I would rather like this company sold next monday to let all nonsense burning themselves. YES this is the DANGER that forces the short right now to hire those high priced lawyers. They FEAR, REALLY FEAR, just this possibility. If there is SOME EVENT (earnings, revenues, buy-out, listing) that brings in new buyers their ability to finance/float the ever growing short position will "break down" ONLY this works.
