haha... so much greed in everyone's eyes right now ($)($). dont worry fellas there will be plenty more of where baidu came from.
Maybe. I'm OK with people boasting about trades they did, recommending tip sites, or even pumping their own tip sites, but if things look fishy - a trade that looks impossible, or a recommendation of a tip site (espicially by a first-time poster) that omits the fact that the poster has an interest in it - then I want to point that out.
FYI, GS had shares to borrow from the open to close on Friday. As much as you wanted. They certainly wouldn't have lent it if it were "illegal to short an IPO in the first 30 days". After all someone has to add liquidity. I think that restriction has to do with RR`s who work for a firm as a broker or investment advisor and it applies to any sale or purchase of an IPO.
As determined by the Securities and Exchange Commission, which is in charge of IPO regulation in the U.S., the underwriters of the IPO are not allowed to lend out shares for short sale for 30 days. -Thats the rule. Market makers can short, though they may have to buy in, and clients may lend their stock, but that is rare on such a tight deal. I am curious if you actually were able to short the stock, or is this what you heard?
http://www.sec.gov/rules/final/34-50103.pdf No one can short an IPO in the period prior to pricing, for obvious reasons. But I can find no rule that prohibits shorting an IPO after it commences trading, and I have done it.
Never said you werent allowed, just stated that underwriters arent allowed to lend out to short, therefore making very hard to come buy. Looks like Nysescalpa got a gift, wish i was that llucky, no dice at cybertrade.