SEC Shorting Concept Proposal.
Hello all, This is what I just sent out to my readers tonight:
Good evening everyone.
I hope you all are doing well, in life and in your investments.
Tonight, I want to address something I feel is most important, that IMHO, can and does affect on a daily basis, those of us that invest in the OTCBB market... Naked Market Maker Shorting.
Last October, the SEC put out a Concept Release proposal, to look into the possibility of extending the Shorting rules that currently cover the other exchanges, to the OTCBB Market.
The SEC normally allows 90 days of comment period, and I?ve heard, were very much shocked by the sheer numbers of individual investors, who took time from their busy schedules to write about this IMHO, important issue.
This because until that time, such an overwhelming response by the general pubic (the Individual ?Retail? Investor) in support of ANY issue, had totally been unheard of, until now.
Due to this very fact, the SEC I've heard, is indeed looking towards drafting such a rule for the protection of the individual investor. This proposal, if drated into an actual rule, and then adopted, would allow the current SEC rules in regards to shorting, that cover the main exchanges, to indeed, also be extended to the OTCBB market.
However, this process can be and often times is, a LONG and drawn out bureaucratic process, that can take years before such a rule is even ACTULLY drafted, commented on, 'tweeked' based on the comments to the actual proposed rule, commented on again, and then if finally adopted (and there are no guarentees that the rule in question will indeed be adopted I might add, especially if there is no real or perceived public support for it) takes affect.
In the meantime, many investors, as well as IMHO, valid, fully reporting, struggling companies are, IMHO, being the ones left 'holding the bag' so to speak because of this ongoing practice by the Market Makers.
While Market Makers are not 100 percent the fault for a stocks drop, nor are all Market Makers the 'Evil Empire', I do very much feel that many Market Makers are in Deep Naked Short positions in many OTCBB stocks, and no longer serve the public investors they sell to, when they do get themselves into such a situation.
In my opinion, once a Market Maker finds themselves deep into a Short position in an OTCBB stock, then in my opinion, it becomes in their best interest, for them to do what ever they can to keep the price of the stock in question down. Thus in effect creating a conflict of interest.
Recently, otcnn.com ran an article about this very SEC Concept Proposal here:
otcnn.com
The below article also goes into detail, on the processes involved, that the SEC follows, to adopt a rule, any rule:
otcnn.com
IMHO, because of this, interest has once again been sparked, to make the SEC move faster in getting a rule, such as was proposed in the concept release, drafted, and put into place, as soon as possible.
Thus, people are once AGAIN writing to the SEC about the SEC concept proposal about Shorting!
Better STILL, the SEC is POSTING those letters, which IMHO, means while the 'official' comment period is to the best of my knowledge over, they truly do, still want to hear from us, and are indeed accepting comments still, from the general public.
Read here the new comments (many posted in the last few days I might add):
sec.gov
and the rule itself here:
sec.gov
and the article the otcnn wrote here:
otcnn.com
Read the proposal, and the comments to date, in order to get a 'feel' for the issue at hand (this so you can write your letter intelligently).
Then, add YOUR voice to this issue, and WRITE YOUR LETTER TODAY!
Then, AFTER you write YOUR letter, SPREAD the word to the other OTCBB stock boards!
I also ask that if any here, publish any newsletters, or have any websites, that you too join in here, and alert YOUR readers to what in my opinion, and what I feel, is this VERY important issue. You have my permission to forward this message to your readers, or post it on the public chat boards, if you feel that is how you wish to spread the word about this issue.
So, if after reading this message, you find this an issue important to YOU, don't procrastinate any longer. Instead, sit down and do it now, write your letter, and add YOUR voice to this issue!
This because in my opinion, while one voice can SELDOM be heard, hundreds, and especially THOUSANDS' of voices CAN, and usually WILL, be heard!
Also, send a carbon copy of your letter to your congress persons and Senators.
Perhaps if enough people write them, their Senators and Congress Persons about this issue, THEY will make the SEC move EVEN faster! Remember, this *IS* an election year!
Traditionally, election years are when as a rule, the politicians TRULY tend to listen to us, their constituents, in my opinion that is.
Go here to find the senator for your state:
senate.gov
Go here to find the Congress Person for your State:
clerkweb.house.gov
and
house.gov
and here:
house.gov
This too is a fantastic site here:
thomas.loc.gov
IMHO, together, we CAN make a difference!
JMHO, FWIW ....
Voyager
P.S. Remember however, the letters you write are indeed Public record. If you include your e-mail address at the end, your e-mail address in genera, your snail mail address and/or phone number, as part of your letter, that TOO will be posted as well online, for the WORLD to see.
Disclaimer: The verification of the validity of any information provided by Voyager and/or the Voyager's Stocktips group is with the sole responsibility of the reader to do.
It is up to the reader to verify this information for them/yourselves, and we strongly recommend that you, the reader, do just that, verify the information for yourself, before making ANY decisions.
The things stated within this message, are Just My Humble Opinion, For What It's Worth (JMHO, FWIW).
It's up to you the reader to decide just on what that opinion is worth to you, if worth anything.
All I am trying to provide is only a starting place for you the reader, to do your OWN research and DD, which I strongly recommend you do, before making any decisions about any stock profiled by Voyagers Stocktips.
The things stated within, are Just My Humble Opinion, For What It's Worth (JMHO, FWIW).
It's up to you the reader to decide just on what that opinion is worth to you, if worth anything AT ALL.
All Voyager's Stocktips is trying to provide, is only a starting place for you the reader, to do your OWN research and DD on any stock we, the Voyager's Stocktips group might profile, or of profiles we might share with you, of those we respect, of which I strongly recommend you do,
before making any decisions about any stock mentioned herein on any companies or stocks profiled by Voyager's Stocktips.
Voyager and/or The Voyagers Stocktips group is not a Registered Investment Advisor or a Broker/Dealer.
The information that the Voyager's Stocktips group provides, and/or Voyager, is not a solicitation to buy or sell securities.
We do not accept payment of any kind from the companies we introduce or their public relationship firms.
This communication reflects opinions of individual analyst(s) only.
This report has not been reviewed or approved by the profiled Company.
The information, opinions and analysis included herein are based on sources believed to be reliable and in good faith but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness.
Investing in securities is speculative and may carry a high degree of risk.
As a reader of the Voyagers Stocktips group, and also if you are reading this message on the Bobz.com or Raging Bull message boards, you will be also still be responsible for your own trading and investment decisions.
You have to set your OWN goals whether you want to invest for short or long term, as well as set your OWN entry and exit points, should you decide to purchase ANY stock.
The Voyager's Stocktips group, and Voyager, is not responsible for your investment decisions, and not liable for any loss that you may incur on the stocks that we profile.
We only give you ideas, stock picks, and perhaps buy alert to work with, a place to start per say, the rest is up to you.
We advise you do your own research yourself, and in fact, STRONGLY recommend you do indeed do your OWN thorough research, in order to make a proper investment decision depending on your own risk objectives.
Investors should review a complete information package on the profiled Company, which should include, but not be limited to, the profiled Company's annual report, quarterly report, press releases, as well as all regulatory filings.
All information contained in this report should be independently verified with the profiled Company mentioned herein.
From time to time, associates of the Voyager's Stocktips group may have Positions on stocks that we profile.
We may profit at any time from the stocks of the companies we profile, in the event the shares of the profiled Company increase in value.
These positions may be liquidated from time to time even after we have made positive comments regarding the profiled Company.
The receipt of this information constitutes your acceptance of these terms and conditions. |
