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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (55029)	9/28/2001 8:02:48 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

Last week, a House Financial Services Committee member, John LaFalce asked the SEC if short-selling might be hurting our markets. This was the WRONG QUESTION to ask. The SEC head, Harvey Pitt, responded in a CNBC interview a few days later saying that short-selling was good for investors wishing to hedge their investments. Reference: Message 16407770 Message 16408446 The petition on the previous post more closely addresses the issue at hand by asking the RIGHT question, thanks to Ga Bard. Please, if you have passed on signing it, I ask you to reconsider. Thanks, Rande Is

To: Rande Is who wrote (55029)	9/28/2001 8:26:37 AM
From: Jason W	Read Replies (1) \| Respond to of 57584

Rande, To say it briefly: I believe the American financial system reacts abnormally in the short term, but perfectly accurately over the long term. If shorting is a problem now, bargain hunters and true investors will notice these stocks and buy them. Artificial lows will not remain. Perhaps you could supply a list of companies that are "over shorted" or "artificially low". As someone who respects your stock picking prowess, this would be a great list of stocks to consider purchasing. Great American companies with earnings and solid management will not be held down by even the richest shorters forever. JMHO, Jason

To: Rande Is who wrote (55029)	9/28/2001 10:18:48 AM
From: e.von	Read Replies (1) \| Respond to of 57584

Thanks for bringing this to my attention, I will pass it on to the press. I've been looking for the holes that need to be filled in our financial structure, though most are just waves. This most certainly is a hole. Holes are the void for the value of the American dollar. This may be worse than counterfeiting, I don't know.?. On that note, This petition, if presented to government, must have a positive spin. For example it could be publicized once acted upon with the politician saying "We have usurped the thieves from draining our banks as a protective measure for national security, and maintained the foundations of our Democracy." If it is sold to government as just another negative, even though its a huge problem, it will shoved under the rug. No politician wants to be the beast of burden in this market. Then of course they will eventually do something when all of America is sliding through the hole in the floor like Tom Hanks in the Money Pit. Approach is everything. Thanks again for the info Erick

To: Rande Is who wrote (55029)	9/28/2001 12:52:57 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 57584

Rande, This is not one of my hangouts but a friend asked me what I thought of your issue. "It is my belief that foreigners [non-American citizens] are taking part in mass naked short-selling of American stocks. Without the underlying borrowed shares, this is known as "naked" shorts. In America, this is an illegal form of short-selling, but foreign brokerages allow it." It sounds like a lot of nonsense to me. How can you sell short if you don't deliver something (aka borrowed shares)? It's like saying car dealers are selling cars they don't own in order to drive down the price of cars, but they're not borrowing them from nearby dealers to do so. So, where are they getting the cars they deliver to the buyers? When they close the sale (you know, whoever bought the shares in the short transaction is going to want, uh, delivery) just what do you think they're delivering? Milk? Would you buy shares in the market and then, when delivery day came, accept a smile and a promise that this was done by "a foreigner who did not actually locate the shares for delivery, but his promise is just as good"? Foreigners may indeed be selling stock, but they are by and large selling out, cutting their losses and repatriating their funds. Is this driving the market south? To be sure. Is it manipulation? I think it's called "voting with your feet." You know, when markets go down too much (for some people), a few clowns get the idea that if we just restricted short selling then the market would go up again. Actually, since every short is a bona fide promise to buy (that is, btc) it merely provides increased liquidity to the markets. That is a good thing, just go check out some illiquid markets if you don't think so. Start with Jakarta (I've been there) or Shanghai (also been there). It's also amusing that when the markets go up too much (which, see, Naz 5000) we never seem to find kooks who want to restrict "long buying" of securities. Kb

To: Rande Is who wrote (55029)	9/30/2001 1:21:10 AM
From: If only I'd held	Read Replies (1) \| Respond to of 57584

Rande, You said... "In America, this is an illegal form of short-selling, but foreign brokerages allow it. " Rande, correct me if I am wrong, but I beleive the SEC DOES allow naked short selling by market makers..."in order to maintain an orderly market". It needs to be stopped. I said this on all the boards I frequent. I came here and called for everyone's help in petitioning the SEC about the allowance of market makers to naked short stocks. Message 14542271 I didn't get one single response from this thread. In fact, of the 6 or 8 threads I put my message on, I think the only thread that gave me any conversation about it at all was on this thread.. Message 14542265 I did this a year ago with no response from any of you and now it is an urgent matter? The damage has been done my friend. You're too late. By the time you have any progress with the SEC, the market will be bottoming most likely. I'll sign your petition though.