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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: J.D. Elliott who wrote (11688)	4/27/1999 3:45:00 PM
From: Ken Sammut	Read Replies (1) \| Respond to of 25548

.46 to .47 with over 2m shares traded. eom

To: J.D. Elliott who wrote (11688)	4/27/1999 3:54:00 PM
From: Mike Gold	Read Replies (4) \| Respond to of 25548

J.D. the explaination is simple: Short naked people in Canada are to blame! There should be a law up there against public nudity! :)

To: J.D. Elliott who wrote (11688)	4/27/1999 4:09:00 PM
From: Coz	Read Replies (2) \| Respond to of 25548

JD, If you have your shares in your CASH account, theoretically, your broker is not allowed to loan them out for shorting. If they are in you MARGIN account, then they can. Shares loaned from your margin account are legally allowable shares; though, I have heard that brokers are known to loan shares that are held in cash accounts. This is not legal. This, however, is only part of what we think is happening with MDIN. US firms cannot short stocks under $5 in value. Canadian firms can. Canadian firms also have different settlement rules. When a stock is shorted at a Canadian firm, the short does not actually have to have possession of the shares he is selling. He is, however, expected to square up within a reasonable time period. As I understand it, these squaring up rules are not strictly followed. Some unscrupulous firms will keep glomming on these naked shorts and can actually drive legitimate businesses into bankruptcy thus totally eliminating the need to square up. --Coz