Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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From: rrufff	4/21/2005 2:09:07 PM
	of 5034

Excellent post by Geoff Altman, much clearer and less "confrontational" than stuff I've written. Message 21251988 Jeff , you seem to have me confused with someone that believes everything that the ncans website espouses. - FTDs (failure to delivers) exist, witness the Reg SHO list That's a fact, the DTCC admits as much. IMO the DTCC should open its books and dispel or confirm the depth of the FTDs, none of this ignoring all FTDs previous to SHO. - Naked shorting produces FTDs. I've never read anything like this statement nor do I agree with it. Of course naked shorting CAN cause FTDs when the member broker ignores SHO or is placing orders for an entity that can legally naked short......such as your friendly hedge fund or arbitrager. IMO these unregulated entities are the holes in the system and as such are ripe vehicle for manipulation. It's not fair to be able to short shares that, based on a failure to deliver, can be deemed not to exist When a stock shows up on the FTD list IMO trading, long and short, should be halted until the appropriate deliveries are made for removal. Hedge funds naked shorting all day long can destroy a company's share price If it happened that way it would. The DTC is to blame for a faulty share borrow program Don't care as long as it's fixed. Jeff, the whole scenario you brought up IMO is just indicative of another problem. IMO FTDs on the long side are likely to do with irregularities in the underlying stock and could indicate possible fraud by the company, which happens all too often. Best wishes Geoff (Note: true spelling)

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