VLVT (was CSMA) Message Board

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Microcap & Penny Stocks : VLVT (was CSMA)

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To: jan_mike who wrote (2589)	12/3/1997 2:32:00 PM
From: TraderGreg	Read Replies (1) of 11708

Mike-Way back in the early days of this thread, we were referred to an article that talked about the various shorting methods done on these BB stocks. I called some of that shorting illegal. But in retrospect, it may not "technically" be illegal. If one can find a broker to let one short a stock, there may not be legal requirements for that broker to call another broker and request to borrow shares. It is a requirement on NASDAQ,AMEX, and NYSE, but it appears not to be on BB stocks.However, if it can be shown that an individual shorted a number of shares that exceeded the total shares outstanding there might be a case. In any event the thrust of this article is that often times when people complain to the SEC, the SEC first attempts to determine if the Company itself is involved. I have no experience with this but that's what the article talked about. Moreover, whether the shorting is legal or illegal is kind of irrelevant. If the shorting is excessive, calling our certificates can exact pressure on the shorters and drive their price to cover up. Can someone shed light on that article and also if the SEC often times seeks out the innocent victims first? TraderGreg s

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