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Message: Shorts

EDDIE, I'm not certain, but I doubt if there is any magic date they must cover. Shorting is a way of life for traders. The recent concerns on this board by many posters were #1. Was naked shorting legal on penny stocks (hopefully OMAG will soon graduate from "Penny" to "NASDAQ" soon) and #2. What was the extent of the shorting using shares the traders themselves didn't own , but rather were loaned out by brokerage firms unbeknownst to the actual owner of the shares. This is the reason that to be sure your brokerage firm is NOT loaning YOUR shares to the shorts, you must be sure certain that your account is set up as a CASH account and not a MARGIN account. IF you find your account is currently set up as CASH, one phone call to your broker will "correct" it to "CASH".----Bill.

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