yeah but there are dozens of other chinese offerings that people are gonna be waiting to jump on. btw i think bidu is hillarious. if people think gooble is overvalued then what is baidu.com .. btw notice the "dot com"
It sure is. once word gets around from spammer to spammer that its an easy site to spam and that spammers post and their links can stay up instead of deleted immediately, the site goes on a list just like an email list....expect it to really be overrun from now on. check this out from earlier today..still there. http://www.elitetrader.com/vb/showthread.php?threadid=53535
Plain and simple, if you are trading outside of the US, you can short whatever the f**k you want. If MMs can short, then there is stock to borrow.
The reason it is so difficult to short with an IPO is no one has actual physical possession of the stock certificates till three days after the IPO. The BD cannot loan something to you if the BD does not have it to loan. That is why the BD gives you a list of stock that you can sell short with your BD. That is a list of stock that is held in "street name" for other clients that have given the BD permission to loan out on short sales. If a stock is not on that list then that means the BD does not have a client that owns that particular stock and has no other method of having that stock to loan you for a short sale. Since Goldman was the IPO underwriter they had stock to loan but I doubt that anyone on ET actually was afforded that privilege. Goldman, along with the participating BD, paid for the entire amount of stock at $27 on Thursday nite. This is known as the primary market. It is then placed in the accounts of the purchasers when the SEC gives the final approval on Friday morning. What we trade is known as the secondary market. These stock certificates do not just grow on trees, LOL. If a BD has stock, that BD has had to place capital at risk to acquire that stock, just like us. There are no free lunches. SteveD
I opened up the e-locate page(GS customers)..typed in BIDU for 1000 shares...and presto chango 2 blinks of the screen later and I was OK to short 1000 BIDU if I felt like it. Clearly GS would not have let me borrow the shares if it were illegal....