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Non-Tech : Nasdaq planning clampdown on Internet rumours
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To: Jeffrey S. Mitchell who wrote (235)9/29/1997 11:07:00 PM
From: Riley G   of 250
 
What's that have to do with this thread? I fail to see the relationship, unless you are talking about the blatant NAKED Shorting of BB and NASDAQ stocks!

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Complaints to regulatory agencies haven't stopped the practice of undeclared short selling. However, one way companies can protect themselves is to recommend to shareholders that they take physical delivery of their stock certificates. When physical delivery of stock certificates is demanded by a significant number of shareholders, the creators of nonexistent stock can be squeezed. The short sellers won't have stock certificates to deliver and thus they will cause losses for them and will cause them to move their undeclared short activities elsewhere.
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The present OVIS special situation has to do with the above comments and has nothing to do with Type 1 or Type 2 (cash/margin) accounts. We are not talking about legal shorting we are talking about blatant selling on nonexistent shares to flood the market. Thus keeping the price of a stock down and to terminal short it at the same time. If a terminal short is made (stock value = $0) then the shorts or market Markers never have to worry about coving their shorts or extra shares that they flooded the market with. This is why every shareholder must demand delivery of their certificates!

RG #00
OVIS cartel Leader & Founder
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