IPMG - International Precious Minerals Group Message Board

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Gold/Mining/Energy : IPMG - International Precious Minerals Group

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Mar 7 3:00 PM EST

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To: pqrs who wrote (49)	7/31/2005 11:16:56 PM
From: rrm_bcnu	Read Replies (1) of 799

Naked shorting is when a person borrows shares at a given price from a broker that may not actually own them. The buyer then shorts the stock, driving down the price by underbidding the Bid price in small blocks. When it gets down to a real low price, the person sells the borrowed shares back to the broker at the lower price and pockets the cash difference. Then, typically, they will go long and drive the price back up, causing a run of new investors (and money) to flood in. As the price rises they sell in to strength, then repeat the process. When the nasdaq discovers that the shares were borrowed without certification, they will place the symbol on the sho list. By the time a stock makes the list it is usually already to late on the downside, and an upside move is probably next on the agenda. rrm

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