So, let's say Lumb has 25 million shares he wants to sell over the course of the day. Most liquidators of large blocks of paper would phone in the order to their broker. The broker would then give the order to his trading desk which would route the order to a market maker. The market maker would then try to sell it. As it is sold it would technically be registered as short sale because the buyer's paper had not yet been delivered officially to the market maker. - overachiever
Overachiever, technically you are not correct. But thanks for playing.