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Genco Shipping & Trading Ltd. Message Board

  • masterwallstreet masterwallstreet Sep 4, 2013 12:55 AM Flag

    Here is one way to stop the shorts from borrowing your shares

    In my opinion only, if you put a high limit sell order good until cancelled (mine is set at 18) that means they can not sell my shares until the stock reached 18 dollars and they can not borrow my shares either. Some people call it a myth or a rumor. The only way to really find out is to call your broker and ask. Once a sale order is placed, good until cancelled, that means they can not touch these shares until it reaches 18 dollars. So they can not loan them out. If they can not loan them out, they can not borrow them to short. The shares will go up because they can not short them. Does that make sense? If you have no sell order, good until cancelled, they could loan them out to short and use them against you. This will bring it down. Do not take my word for it. Call your broker and do some research. I guess the cat is out of the bag now. Bad shorts bad shorts what you gonna do what you gonna do when the stock rises on you you fool?

    Sentiment: Strong Buy

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    • It's certainly a myth. Go do some research, or actually call your broker instead of spewing baloney.

      If you are the one whose shares are being lent out by your broker to a short seller, your part in the short sale transaction will have no effect on your ability to sell the shares. During the short sale, your shares are the ones currently being designated as lent out by the brokerage firm, but the broker essentially owes you shares. When you want to sell the shares, the broker is required to replace your shares so you may sell them on the market. In our current age of electronic-based shares and transactions, all of this is done without your knowledge and has little effect on the average client.

 
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