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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: The Vet who wrote (12371)	9/17/2002 9:53:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 16631

What is NM shorting? M

To: The Vet who wrote (12371)	9/18/2002 12:34:35 AM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

Vet, all I can say is "unbelieveable". Are you sure MM's are doing this? BTW - I also learned that traders can short stocks on downticks, too, but they do have to cover by day's end. I believe they call it "bullets". Still not too clear on it. Anyway, what a racket out there. It will never be rectified, but I wish at least someone would warn the small guy about this weird crap going on out there. It's one thing to get screwed and another not to even be aware of how it is being done. We all deserve to at least know all the risks. From: The Vet Tuesday, Sep 17, 2002 9:43 PM View Replies (1) \| Respond to of 12392 Dave See my earlier post on naked MM shorting. The NASD are aware of this but are powerless to act as it is technically legal. I have been investigating this very intensively over the past few weeks. MM naked shorts ARE NOT REPORTED as part of the short position, nor do they have to cover. However it is most effective and safest if they concentrate on a few stocks rather than spread the shorts around. Once the selling starts other non MM shorts jump in secure in the knowledge that the MMs will not let the situation get out of control. The MM trading business is depressed these days, This is how the unscrupulous ones are making up their shortfalls.