Over the last four weeks and continuing as we speak Noticed a whole bunch of Big Blocks bought by our CEO's into market weakness, some of the sizes of these buys is remarkable. I am wondering if these purchases are Desked by the overbought and oversold trade dialog? Wonder how many of these CEO's even understand the potential that what they bought might never have been located.
Kind of an irony of ironies isnt it? There is a story within the Deep Capture story where Patrick Byrne ordered a block of stock and requested delivery, only to be told later by his bank that Lehman could not get a locate for delivery.....truly amazing, CEO gets desked on purchase of his own company.....
In the absence of any market prices, overbought and oversold mean exactly the same thing. The SOI, the float, 144 stock, stock buybacks by companies, institutional accumulation and distribution......all go into an analysis of a given free float.
broker dealers are essentially go betweens clearing as custodians or clearing stock in street name. In there own practices, their goal has become, fee generation from stock loans. Locate or not, is a big piece of the trades missing information.
Be sure your accounts are custodial at your favorite broker dealer.
My guess is, that the absence of market prices is willful protection against accumulated liability by trading systems hijacked & assigned terms, which essentially circumvent the laws governing stock issuance.
This just in:
More companies added to the Short Sale Ban list....
Stocks near 52-week highs added to short sale ban list, including IBM
Twelve more companies, including IBM (IBM
) and H&R Block (HRB) , have been added to the short-sale ban list as of
Wednesday, according to information posted on the New York Stock Exchange's
Web site. Other companies on the list are: Medco Health Solutions (MHS) , Arbor
Realty Trust (ABR) , Developers Diversified Realty Corp. (DDR) , MFA Mortgage
Investments (MFA) , American Safety Insurance Holdings (ASI) , Landamerica
Financial Group (LFG) , PHH Corp. (PHH) , Credicorp (BAP) , Lexington Realty
Trust (LXP) , and Strategic Hotels & Resorts (BEE) . Last week, the Securities
and Exchange Commission banned short selling in shares of certain financial
institutions until Oct. 2 but the list has been expanded to include more |
