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Microcap & Penny Stocks : RUMC...target...takeover
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To: Zorba1 who wrote (19)12/8/1999 1:48:00 AM
From: Rich   of 20
 
GOOD POST: READ THIS

Let the SEC know about the games MM's play. E-mail them with the below with your name.

copy of message sent to: rule-comments@sec.gov

Dear SEC:

I am writing in regards to the proposed law concerning the short selling of OTC-BB
stocks(Proposal # S7-24-99). The naked shorting of OTC-BB stocks should be eliminated.

One of the main reasons why ?penny? stocks are so risky and volatile is not solely because of
the companies themselves, but because of the rampant naked shorting by market makers and
offshore brokers, mostly without having to borrow the shares and without "up-tick" or any other
limitations.

This activity goes unchecked everyday and must be dealt with accordingly. Unchecked and
out-of-control chaos and deception seems to run rampant day after day.

Unregulated Shorting is used as another weapon against bona fide investors who are
squuezed out by unscrupulous manipulators and shorters.

The abolition of naked shorting in conjunction with the requirements of being fully reporting will
ensure a more fair and equitable market for investors and companies alike, a market where a
company's true value is reflected in the price and not distorted, suppressed or inflated
artificially by manipulation.

Of course, much more needs to be done but finally, in my opinion, we are getting some action
and regulations to protect investors a lot better. Keep up the good work ! It is needed !

Respectfully Submitted,

_________________________
( name here )

( give here your email address or regular address, as you wish or use )

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Lets everyone spend a few seconds to email the SEC. Don't be lazy. No one will do it for you.

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