Hey Patchie - How about observing a stock with me. Not sure it is even a scam - that's not the important part. The important part is whether the shareholders have been brainwashed into thinking Naked Shorts are the cause of the price decline and it has nothing to do with the companies performance. Whatcha think? Maybe swim in my waters and see what I see? Notice how a drop in PPS drives shareholders to think Naked Shorts are the cause - and never questioning the company.
HSOA
some signs just showing up:
To: loanlady86 who wrote (11656) 8/24/2007 7:21:34 PM
From: bv58 Read Replies (1) of 11661
Thanks Joyce. Do you think doing a split say at 1.1:1 or something minimal would accomplish anything ? Maybe after the immediate financial issues are resolved and if HSOA is still on the REG SHO list. Would this force the naked shorts to cover ? If so, I would think the knowledge something like this might happen would also encourage some legal short positions to cover when they realize they can't protect their position by attacking positive momentum with naked shorting without risk. I can accept losing money on an investment because I judged the fundamentals incorrectly or misjudged management or the business plan. I have a hard time accepting being down when I feel manipulation is involved. Hopefully, if/when management gets its house in order the PPS will take care of itself. If not, I think some action like this might be in order.
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From Yahoo board - but caution advised - it is a totally gross board.
DTCC - Allowing Fraud - Here's The Letter To Your Congressman (4 Ratings)
24-Aug-07 05:26 pm
Here’s the letter everyone needs to write to their U.S. Senator and Congressman. I did the work for you, so just cut and past and get it done!! Remember to follow up with a phone call as well.
Dear Senator / Congressman:
On July 20, 2007, United States Senator Bob Bennett (Utah) made the case that The Depository Trust and Clearing Corporation is allowing malicious electronic fraud to be perpetrated on investors. This fraud is called Naked Short Selling, it is illegal, it artificially reduces the price of a stock, and it is causing many Americans to lose faith in our system of government regulation of the stock market.
It starts when the first broker sells shares that don't exist, and then 13 days later (SEC delivery day requirement), another broker sells the first broker the same amount of shares... which also don't exist.
This is Electronic Fraud 101 on the American investor.
The core of the problem is that the DTCC is responsible to ensure that brokers cannot borrow for short sale more stock than is on electronic deposit with the DTCC (i.e. no naked short selling). The DTCC and SEC are simply not enforcing this requirement, even though they have the electronic evidence to prove what is happening.
Since this illegal practice is not being policed or enforced, malicious brokers are ping ponging phantom stock shares back and forth between each other all day long to meet the 13 day SEC delivery requirement. These are “rollover" deals (there is no passage of money between brokers) and every 13 days they just have to deliver the phantom shares back to the other broker. Senator Bennett has first hand knowledge and concrete evidence of this illegal practice.
Bottom line - this is a huge illegal scam that is hurting many investors, and it’s not being policed or enforced by the DTCC who has the information to allow enforcement. It's a pretty sick state of affairs for the investor. The DTCC, SEC, and Senator Bennett have concrete evidence for you to review.
As an investor, I ask that you support immediate action to enact the legislation requested by Senator Bennett on July 20, 2007 to put an end to the practice of illegal Naked Short Selling.
Attached is a copy of the Mr. Bennett’s speech and entry into the Congressional Record. (see below link to print a copy to go with your letter)
Sincerely,
bennett.senate.gov.
Sentiment : Strong Buy
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FWIW there are over 17 million shorts reported as of the 15th of July 15. There is also 19 million shares of institutional holders as of 6/30/07. (probably less by now since Russell index was at an all time high on that date - they are part of the Russell) |
