Druss,
that is the way I see naked shorting as well, and yes, it is illegal. I think that some of what the shorts did to BTIM over the last 8 months is illegal and I do hope that the SEC is looking into it. From one of my fellow longs, who follows the tape.. here is a quick scenario of the manipulation by **certain** shorts.
while he is at it, he can perhaps get them (SEC) to look at the opening trades april 29th when btim opened with a bid of 8 1/2, down from a previous day's close of 11 1/4, as assensio's little puff piece hit. somebody either had been rounding up lots of shares to borrow, or went naked in a large way at the open.btw, btim got as high as 11 that day, before settling at 10 1/4, so whoever dumped those shares (some to me at 8 5/8, thank u very much) either lost that day, or had to cover later, and perhaps hasn't yet. |
