Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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To: Max Fletcher who wrote (3585)	7/21/2008 12:01:11 PM
From: basserdan	Read Replies (2) of 5034

Isn't Cox's conclusion positive, in that he implies we need to get rid of NSS for the entire market? Hi Max, Sure, especially if he and his underlings actually do something to bring such changes about... but until then, I'll remain dubious w/r to his integrity and tend to place more value in the 'what is, is' of his piece. "Next week, the SEC will implement an emergency order designed to prevent naked short selling in the financial firms that the Federal Reserve Board has designated as eligible for access to its liquidity facilities. Many people think naked short selling is already illegal, but that isn't true. Shares are normally delivered to the buyers within three days of the trade. But in most stocks, including those covered by our emergency order, that three-day period can be extended indefinitely. Even without these extensions, and even when a short seller locates shares that can be borrowed, there can be problems because the short seller is not currently required to actually borrow those shares until settlement." Feel free to color me "glass half empty!" <ng>

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