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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Rocket Red who wrote (60427)	7/21/2008 12:29:08 AM
From: LLCF	Read Replies (1) of 78439

My Facts? The guy said that naked short selling was legal... it is not, as the article says. As I said (and in the rant) the real issue is the small stuff. Naked short selling in large stocks isn't a real issue except in special situations, and in fact there are probably plenty of shares out there to borrow and cover the 'naked' stuff in all those stocks. <Christopher Cox got up on CNBC, and in an interview actually stated that Illegal Naked Short Selling was, in fact, not illegal. Technically, it might simply be a violation of SEC regs- and it happens due to a series of loopholes in the system that allow it to happen. > So he never said it wasn't illegal... hence "NOT"! He's clearly talking here about the small short term loopholes and special circumstances questioned about... probably that MM's use to re-short. That's not to say Cox isn't a putz... I know nothing of him. Everyone is crabbing during the financial meltdown... it's always the same in every meltdown. In the tech wreck the same issues came up. Smart people have been shorting the financials for years and no one said booo untill things get volatile and crazy. All the big money has been made, these clowns are fighting over scraps. Look I'm not saying everything is great... Wall Street is the crookedest street in the nation (ahead of Lombard Street)... everyone knows that. But hyperbole like naked short selling is legal and everyone is doing it everywhere is silly. If you think things are bad now, wait till this bear really gets going. Stay very far away... you'll get your freakin eyeballs ripped out trying to bark with the bid dogs. the little rant about letting little guys do it too.... commmon, it's been that way since the beginning of time. DAK

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