and yeah it was my man' the batman...so you work
at Gruntal, good firm.
I tried to catch you
with the continuing education...but as you and I
know...you were Grand Fathered in...Cheers
is a perpetual Bull...gotta love em'...happy trading
Big squeeze coming...
Since its formation on September 20, the eBay
Shorting Consortium (ESC) has had a powerful influence
upon the eBay posting community. Not surprisingly,
eBay poster bashers rely on ESC for shorting advice.
Many posters complained to me recently, however,
saying that ESC's response to their e-mail inquiries
were either exceedingly slow or nonexistent.
relayed these comments to oneflawedtrader, head of ESC's
trading strategies department, who had this to
"First of all, I can say that we think that eBay is a
good short at any price. Look at us! We shorted ONE
share of eBay at 138-1/8 and we are sitting pretty
"As for the e-mails, we only
respond to e-mails on Friday mornings between 00:00 PDT
and 04:00 PDT."
"Why?" I asked.
takes its system down for its weekly scheduled
maintenance during those hours and its system is then
unavailable. As you know, we spend much time roaming the
message board bashing eBay. Well, off the record, I can
tell you that when we are not bashing eBay, we are AT
eBay bidding and selling like everybody else. Hey,
we're only human. But, don't let that get
I assured oneflawedtrader that I would use an old
journalist trick to preserve confidentiality.
First of all,brokers are exempt from continuing
education if they have been in the business over 10 years
so i couldn't tell you about how hard the test is. I
am an NASD principal,options principal etc. I ran my
own firm for 4 years 15 years ago.Short sellers CAN
be forced to buy in if the stock is called in by the
broker on the other side of the trade.This is a RARE
occurence but it does happen from time to time.
Are you aware that a "short seller" can be made
to cover his/her SHORT when the clearing house tells
them to...may-be you can elaborate on that for us, and
tell us in what situation that can
Also did you take the mandatory "continuing education
exam" this year yet...how hard is the test...you've
been a broker 35 years right
Of course i know the risk of short selling.I have
lots of clients that short stocks.How do you know i
didn't short EBAY? I gave you a great clue as to who i
work for,but i guess you didnt watch squawk box this
morning.The risks of short selling is the stock goes up & you
lose your shirt, unless of course you put a stop on
it.In the case of EBAY it has to be a mental stop.
I keep CNBC on all morning and afternoon and also
for market wrap in the evening, so if you say your
head analyst was on this morning, it could have been
any-one.I didn't think brokers would be so embarrased where
You say that "YOU WOULD HAVE MADE
10 POINTS SHORT"...what does" would have mean
You say what a GREAT SHORT it is...however you don't
play your own money...oh' you are just another TALKING
As a broker are you aware of the "risks" of SHORT
SELLING".If so please tell me...
I don't think you are
a broker...tell me the firm in Conn. you work
Right,This market is overbought & one big
speculative bubble. I have been a broker for 35 years in
Connecticut.I posted on Tues. when ebay was 140 & i would have
made 10 points SHORT in the last few days.It went up
today when some slock brokerage house made it a strong
buy.As far as what firm i work for i will leave that
question alone.All i can tell you is our head analyst was
the guest host on CNBC this morning & he is in your