In a rare instance, Dave Webb gave me permission to quote him verbatim, saying that this was not an opinion but a statement of fact.

Dave wrote,

"I'm not sure if people are aware how short positions are calculated. The data published is not terribly useful when you consider that it is reported on a brokerage house basis, not individual basis. For example:

Five clients at Brokerage R Us each have 100,000 shares of Tyhee. A new client signs up and wants to short 501,000 shares. Brokerage R Us now reports a short position of 1,000 shares. Hardly significant most would think, but its significance clearly depends on what the house long position is.

A short position of 131,000 shares of Tyhee is very material if it comes from a house with a multimillion share long position."


Dave Webb
President & CEO
Tyhee Development Corp"

B.