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: Hawkmoon who wrote (3725)	8/23/2008 10:23:09 AM
From: makeuwonder	Read Replies (1) of 5034

Hawk what your saying makes perfect sense. NSS is hard to define without going to extremes to explain. We need to demand delivery of our shares from the broker or this will continue to go on. They are most likely presuming you will never request your certificates and use those shares as leverage. Have you ever tried to get your certificates? If your brokerage is like mine you'll get several emails trying to talk you out of it before you actually get the shares sent to you. They don't want to do it. Or mine didn't. Someone who was on the PAYD board held quite a few shares of it. The company at one point was demanding people get their certificates. Then I believe it was the SEC stepped in and somehow it was stopped. I was joking around with this guy and said yeah you just think your shares are safe in your IRA but it wouldn't surprise me if they weren't using the shares in your fund. Turned out the guy decided to test the waters and got in touch with his broker and said he wanted to get his stocks and it took months for him to get the certificates. He had to write all kinds of people for them. While I know I'm not a fund manager it doesn't take a business man to see fraud. Even though I'm not 100% right I'm not wrong all the time either. FWIW. I just hope our brokerages haven't been allowed to sell up to 120% of the market like one source cited.

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