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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (36617)	3/4/2002 12:55:05 AM
From: sylvester80	Respond to of 99280

Then the programmers of the brokerage houses should be fired and more capable ones hired. But beyond that, nobody told the brokerage houses to cover their shorts. Short selling is not banned. If these idiots are incapable of re-programming their software with the uptick rule within the time frame provided, and they decided to cover instead by their own free will, then they deserve what they are getting right now, because themselves are causing a short squeeze. I actually can't believe that Japan all this time has allowed completely free short selling without the uptick rule. And not only that, but given that freedom, short sellers took advantage of it to manipulate the market: "I know people say this is related to the fiscal year end, but that's not the case," says Shigeru Ariizumi, an FSA deputy director. He says the agency had been working on the new rules for months, and was spurred to act after it sanctioned a foreign brokerage firm, Morgan Stanley, on Feb. 3 for allegedly manipulating the market during a short-sale on Dec. 4. "When the rules have been taken advantage of, it's not right to just leave them [as is] in the market," Mr. Ariizumi says."

To: Cactus Jack who wrote (36617)	3/4/2002 12:56:36 AM
From: sylvester80	Respond to of 99280

"I know people say this is related to the fiscal year end, but that's not the case," says Shigeru Ariizumi, an FSA deputy director. He says the agency had been working on the new rules for months, and was spurred to act after it sanctioned a foreign brokerage firm, Morgan Stanley, on Feb. 3 for allegedly manipulating the market during a short-sale on Dec. 4. "When the rules have been taken advantage of, it's not right to just leave them [as is] in the market," Mr. Ariizumi says.