Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 312.76

+1.1%

Dec 8 4:00 PM EST

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To: BWAC who wrote (40282)	9/18/2008 11:13:36 PM
From: Ian@SI	3 Recommendations of 95536

BWAC, I'm way out of my circle of competence here but Naked Short selling isn't always illegal, or wasn't last week. It's necessary for Options specialists to be able to function. It was allowed as an arbitrage transaction where a multiple-listed company could be bought on one exchange and sold on another reaping a few pennies in each trade. Unfortunately, some crooks have listed numerous US traded companies in Dresden, sell their stock in the US, Call it an arbitrage trade; and never buy back the shares in Dresden or some other exchange with cheap or loose listing standards. This should result in a fail to deliver. But if the clearing corporation is owned by the originator of the trade, it seems to fall through the cracks regularly. Nothing wrong with shorting. It's only the fraud and outright thievery that really annoys me. Too many crooks guarding the system.

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