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

To: Savant who wrote (4870)	8/9/2011 1:57:03 AM
From: Savant	1 Recommendation Read Replies (1) \| Respond to of 5034

South Korea's stock exchange may ban short-selling in an effort to calm market jitters, a senior Korea Exchange official told Reuters on Tuesday. The Kospi was down 4.6 percent in afternoon trade, off its lows on bargain hunting by local institutions. The benchmark index had declined as much as 10 percent earlier in the session. "We have one card left to stabilise financial markets, which is banning short-selling," the official said by telephone, declining to be named because of the sensitivity of the matter. "But taking that measure could add to market jitters, so we are still looking at market trends." South Korea prohibits naked short-selling of stocks. Trading on South Korea's Kosdaq market was temporarily halted for 20 minutes earlier on Tuesday, following steep falls the Korea Exchange, or KRX said; program trading on the Korea Composite Stock Price Index (KOSPI) [.KS11 1800.21 -69.24 (-3.7%)] was halted for five minutes from 0019 GMT to 0024 GMT. In a bid to soothe the markets, the country's financial authorities asked institutional investors such as pension funds, brokerages and asset managers to make every effort to stabilise markets and calm investor sentiment, according to a top financial regulator. "In the future, financial authorities will step up monitoring of unfair trade activity aimed at taking advantage of stock market falls or malignant rumours in relation to the stock markets," the Financial Supervisory Service said in a statement.

To: Savant who wrote (4870)	8/9/2011 10:45:03 AM
From: Hawkmoon	1 Recommendation Respond to of 5034

Certainly have no problem with shorts doing the SEC's work for them and maintaining some integrity in our markets. And if some credible Chinese companies get whacked, it's a sign that they need to be more transparent with their financials and meet US accounting standards in return for enjoying the liquidity of our markets. The companies that are credible will emerge stronger from this, while the frauds will whither on the vine. Hawk