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

To: pcyhuang who wrote (3148)	1/19/2008 7:38:43 AM
From: rrufff	Read Replies (1) \| Respond to of 5034

Key from that article Overstock.com chairman and chief executive officer Patrick M. Byrne commented: "I commend the SEC for standing up to what I am given to understand is enormous behind-the-scenes pressure being brought on them by Wall Street. However, the numbers reported on the SEC website do not include fails cloaked by pre-netting, nor those cloaked by the Stock Borrow Program, nor those cloaked through shifts into the ex-clearing system (which the DTCC itself has described as being 4/5 of the problem). Nor is it clear whether this data includes fails-to-receive, or failures originating from overseas (and I doubt it does). Thus, I commend the SEC on its decision to offend Wall Street by providing data on 1/X of the problem (where X = 5 to 15, depending upon whom one believes). It is a great first step."

To: pcyhuang who wrote (3148)	1/19/2008 10:59:30 PM
From: pcyhuang	Respond to of 5034

Good but not Sufficient >SEC website only shows fails-to-deliver data from August and September 2007 and the SEC notes that more current "data for a quarter will be available [for] at least two months after the last settlement date of the quarter. This is good start in the right direction. But I find it hard to excuse the SEC not to post the monthly data on a more timely basis, just like the montly public list of short positions on individual issue. pcyhuang