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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Jeffrey S. Mitchell who wrote (95703)10/2/2006 11:26:01 AM
From: SECteacher  Read Replies (1) of 122087
 
Jeff, Have you ever read an NASD monthly enforcement log? Check out how many firms (note; NOT DTC) are hit each month for improperly marking trades.

I would agree that FTD's are both long and short but unfortunately the system is broke when it comes to identifying a long and or a short sale and how each are defined.

For example: Having a "long share" fail can take place under several different methods including, a shareholder selling what they believe to be long shares but are in fact short due to a previous FTD. It is for this reason that trades should be settled promptly as identified by law. Global Links and the B-D accounting problem was another way that "longs" fail settlement. In both these cases however the fails directly impact the pricing of the markets and that is manipulation.

As for dreaming up that somebody at the DTC was changing tags, that is a conspiracy theory out of your own head and should be stated as such. To attribute that theory to others, in any method you choose, is irresponsible. Nobody but you has even ventured into that conspiracy trail.

The bottom line to this: The system lacks transparency and the system lacks the integrity posed by the Securities Laws; that being the settlement of all trades promptly. Fix the underlying issue [settlement failures] and the issue goes away and short sellers can be free from the finger pointing.

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