I'm also certain there's stock available to
short. The last time I checked there were about 300k
short, down from approx. 850k in March 99. I know the
person that covered the 500k in March. He was using it
as a hedge against another investment in the sector.
He covered the short after the company failed to
include certain revenue in 4Q results, which were
reported in March.
What your broker should have
told you is his didn't have stock available to short.
WHC is not widely held and not all firms have stock.
However, if you pushed the issue, I'm certain your
broker's firm could borrow stock from another that holds
Hope this helps.
No shares available to short since so many have
already been borrowed to sell short. I don't think it is
any more complicated than that. Shorts are probably
waiting until New Years to cover so that they can realize
their gains in 2000 rather than 1999. Good reason to
buy in December IMHO. Best wishes.
Checked with my broker and he said that there are
no shares available for shorting. Was doing
before investing. Any idea why no short
available? Yahoo only shows 270 k short
there are more short. Is there
a secondary offering
in the recent past or
buying more WHC today ----- but the market action
just didn't look like a bottom. I logged off at 15:57
with the DOW at -65 only to discover that the index
closed off -118. That was a surprise! This is a very
good corporation and the people who log onto this
message board are quite knowledgeable. But the selling
continues --- in the "old days", tax loss selling usually
stopped around the middle of the month. But, today there
appears to be many "investors" who have NEVER experienced
a significant down market (although WHC certainly
qualifies this year). So, I wonder if the selling might
continue up to the last day of the year. It is really hard
to tell based on the evidence we have at present.
But, I do think that the 1995 low of around $10 is a
significant downside barrier. Best of "bottom price guessing"
for all who are interested in lowering their average
Would probably guess that barring a takeover we
will not see $26 this year but next year it is
possible and probable in my eyes. WHC is a growing healthy
company and unless we all decide to get along and crime
drops to nil...the sad fact is that companies like WHC
can house these folks cheaper and better than our
state and federal governments. My guess is that tax
loss selling will push the shares towards $10 or $11.
I did not want to be the first to say it - for
fear of appearing too self interested. Let the Y2K
riots begin baby! We just need a LITTLE buying to fuel
a short covering rally. Where have all the value
Didnt think the bottom could go much lower so the
hammer went down today and I doubled on WHC. Wonder if
we will see 26 this year - something has got to
give. Maybe a few thousand rioting y2k arrests and a
few internet plummets will put us back in the black.