NAIB appears to be a MANIPULATING SHORTER...
and have been reported by a number of shareholders to NASD and SEC for VIOLATING basic Market Making Rules on its own behalf and/or that of its clients, the usual large shorting groups...
google.com.
"Most individual investors cannot -legally- short bulletin board stocks in the US. There are several reasons why, but for this discussion I think it is enough to say it really is not done. If anyone doesn't know why, ask your broker or drop me a line and I will explain it further. Although individual investors cannot short these stocks, market makers can. Market makers can go short on any stock as long as it is related to "bona fide market making activity" (Rule 3350). Naturally, the key is the term "bona fide". The NASD manual clearly states that market makers should not go short a security simply for speculative purposes. However, there are several market makers widely known to do almost nothing but short stocks for their own account.
NASD rules make it extremely easy for a market maker to begin making a market in any stock very quickly, so these particular MM's often show up suddenly in many hot, high-flying OTC stocks. When they do, it is a pretty good indication that they stock price will soon be under pressure and it is a good time to take a hike. Besides the fact that market makers are professionals and some do a efficient job identifying overpriced stocks, they also have very deep pockets. Considering the average OTCBB stock has a tiny market capitalization, it doesn't take much to help nudge a stock one way or the other."
I see NAIB and EBET taking turns at controlling SEVU's bid, for instance and being for weeks on end on the "offer", several points lower than the next offer, indicating a clear desire to pressure the stock down, certainly NOT what a genuine seller would do...
Day after day, a majority of trades happen on the offer or close to it, but the stock continues to head down due to the manipulation... In addition, the MM's rarely show up on the bid, unless they can match the bid of a major player, knowing full well that they're unlikely to get a call... Sometimes, they'll show up as second or third bidder in line... They don't appear to want to trade fairly, but instead seem happy to SHORT NAKED ALL they can get away with...
NAIB Particulars: Fort Lauderdale... Phone: 954-484 1490... Compliance Officer: Robert Gaeta... rgaeta@naib.com... SEVU trades: March 16,500 shares... April 758,000 shares, the most of any MM for that month...
I have filed a Formal complaint with NASD and I will supply the particulars of the Officer in charge of the investigation by PM... Both EBET and NAIB are from Fort Lauderdale and I suspect Collusion may be taking place to manipulate the stock price down...
EBET particulars: Fort Lauderdale... Phone: 954-776 6118... Compliance Officer: Jerry Stokes... jeblain@yahoo.com... SEVU trades: March 7000 shares... April: 78,800, as they only came in recently to "help" NAIB...
I encourage all shareholders to report these seemingly blatant stock manipulations to NASD and SEC, as VIOLATIONS of Rule 3350 stipulating that a MM can short only to maintain an orderly market, NOT to MANIPULATE a stock to ENRICH themselves at the expenses of the shareholders... Request a full enquiry of all their SEVU trades for the past 2 months and the names of the Shorters behind this apparent illegal scheme...
sec.gov
nasdr.com
New Thread just started on SI to track down ILLEGAL Market Making activities...
Subject 51166
Just My Personal Opinion,
F. Goelo + + + |
