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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation? -- Ignore unavailable to you. Want to Upgrade?

To: sixty2nds who wrote (440)	11/4/2005 7:02:22 AM
From: rrufff	Respond to of 5034

Hi sixty and Creede. Thanks for the notes. Viewer is one of the myriad of posters that patrols the several shorting boards here on SI, with a few wandering attack posts on a couple of other boards. It's long been suspected by many that the rampant, but moronic, defenses of convicted former SI gurus, hedge funds and Market Makers is performed by those who benefit directly in a semi-cottage industry akin to what some may call, "paid bashers." In the interest of objectivity, this allegation is vigorously denied by the alleged paid bashers, usually followed by a vague rant about how wonderful the guru is for picking out scams and gloriously shorting it into claimed oblivion. Discussion of manipulation by naked short sellers, including hedge funds and market makers is quickly subsumed by hedgie and MM defenders like Viewer. I'm not exaggerating by stating that the sole tenor and content of his comments seems to be captured by Creede's quote. Back in the days when these gurus kind of ran the show on SI, they had a huge following. They boasted about being right in every short call. This brought in more and more sheep to follow and spread the word. The messianic era of shorting was here. Anyone who challenged their omnipotence was quickly attacked by the pack of sheep-like followers, spewing verbiage very similar to that which Creede quoted. Many posters stopped posting for that reason, afraid of the threats and attacks that the sheep pack "baaaahed" often apparently scripted. Some wondered how information in advance of guru "calls" negative to companies was often published here after apparently being traded upon, which same information was then apparently later published in so-called legitimate newspapers. In any event, much of this theory was the subject of the trial of Elgindy. There is very interesting reading, particularly with respect to the alleged extortion of cheap shares from CEO's, in order to call off the shorts by the guru and sheep followers. The claimed violation of FBI data base confidential information by this crowd is also a fascinating subject. Anyone who truly believes that shorts are all honest, do-gooders, who never are tempted to scam or manipulate, (including behavior allegedly violative of Reg. sec 10(b)-5 and other regs) should read these boards for a proper education and to see the motivations behind those who get so upset as soon as the subjects in the title of this message board are raised. Let's make it clear that I am not against short selling or just attacking hedgies and MM's. In fact, I have written, as Creede knows, probably as much about scamming CEO's, who dilute and dump their own shares. As one of the attack sheep commented, I am admittedly "jealous" that MM's and hedgies seem to have a virtual monopoly on shorting truly scammy companies. What riles the hedge fund and MM defenders is my posting about their manipulation and abuse of rules which facilitates naked shorting abuses. They, quite frankly, don't want their "sure thing" business to end or to be shared. They want to continue to abuse the MM exception to the requirements that trades settle. They want to continue to run hedge funds almost without disclosure, with associate transactions laundered overseas so that tracing their activities becomes impractical. They want to be able to laugh at and attack anyone who claims even the mere existence of naked shorting, paid bashers or manipulation by hedge funds. As viewer says, he is upset that I have called for investigations and that I urge every investor to contact Congressmen, regulators, state AG's, etc., urging fair and honest markets, using technology and not vested interests, to level the playing field for retail investors.