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Strategies & Market Trends : Ride the Tiger with CD

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To: maxncompany who wrote (123386)	7/15/2008 2:11:31 PM
From: Rocket Red	Read Replies (1) of 313039

SEC to limit short selling of major financial companies Tuesday, July 15, 2008 WASHINGTON — US SEC to limit short sales of big financial firms WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission will issue an emergency rule later Tuesday to stop ‘naked” short selling in major financial firms, including Fannie Mae and Freddie Mac, the SEC said on Tuesday. Short sellers borrow shares they consider overvalued and sell them. If the price drops, they repurchase the shares, return them and pocket the difference. The rule would require any person making a short sale in the listed securities to borrow the securities before the short sale is effected and deliver the securities on settlement date. © Copyright The Globe and Mail

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