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Technology Stocks : SFLK
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To: Francois Goelo who wrote (1418)10/17/1999 6:12:00 PM
From: Anthony@Pacific  Read Replies (1) of 1591
 
This post was and is completely false, anyone who effects a naked short sale assumes the immediate and very real risk of being bought in with little or no warning and Canadian Exchanges and Authorities, are not Nationally United like the SEC is here . THE POST YOU POSTED IS FALSE and is a reworded memeo from an internal memo at a day trading firm here in our own Country!

Here in an excerpt"

Effective immediately U.S. NAKED SHORT SALES are PROHIBITED. This is a result of regulatory changes being forced on by NATIONAL SECURITIES CLEARING CORP.(NSCC) IN THE U.S.

If you have current SHORT positions that are not covered by BORROWED stock positions will be bought in within the next 10 days. Check with the loan department to verify if the position is covered.

If you intend on SHORT SELLING you must check with the LOAN DEPARTMENT (PRIOR) to executing the TADE. If it cant be borrowed within our prescribed BORROWING LIMITS we will endeavour to borrow.

IF IT CANT BE BORROWED YOU CANT DO THE TRADE.

Furthermore, any outstanding SHORT POSITIONS from a long sale which is to be delivered in will be bought back on settlement date if the stock is not recieved. If there is going to be a delay in recieving the stock, credit and or compliance must be made aware or we will buy it back"

Even this memo cannot be authentictaed and al of these posts are false and untrue. Ther has been no news or legislation that supports such a statement..just more jibberish and shenannigans by the creepy crim long hypesters.
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Do you really think that regulators wiull take away the checks and balances sytem that has allowed our free markets to thrive.

If this ever happens, The market will be dead and so wil the investing public..only long sales and can be made ...lol What a joke!!
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