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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Jeffrey S. Mitchell who wrote (95705)10/2/2006 12:32:45 PM
From: SECteacher  Read Replies (2) of 122087
 
Jeff, I went back and re-read the blog and scanned the comments, I do not see where there are any comments claiming 97% were mismarked as long sales. That appears to be another liberty you took in misleading the commentary.

The FOIA data presents information on Fails to Deliver and does not distinguish between a long fail and a short fail. As such I wondered where you came up with the 97% number and now I see, you made it up. The FOIA data presented in the blog represented over 500,000 FTD's in a company with a public float of maybe 8 million. Ironically the 500,000 escalated to 3.2 Million by March 31, 2006. That is a 6X increase while on SHO.

The FOIA data is not meaningless as it shows a percentage of the fails trading in a security. Excluded are fails to deliver that are not added into this tally which are fails to deliver held by non-DTCC members and fails held in ex-clearing. In the case of Overstock, the 500,000 FTD's represents the minimum level of fails assuming the other two (offshore non-DTCC members and ex-clearing) are zero.

In the future, I would request you stick to attacking theories actually made by your foe and not to making up a theory for them and then attacking it as if it were their theory.
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