buy in notices being issued........

Discussion in 'Wall St. News' started by flytiger, Sep 23, 2008.


    Trader In Play®
    Ticker Search:

    14:41 Broker Buy-In Notice

    Here is an alert that went out to customers of a prominent online broker: Please be aware that today is the first day that short stock sales transacted after the SEC's Emergency Order of 2008-09-18 will settle and become subject to hard T+3 close-out if the broker is unable to deliver the stock this afternoon. Your account has been identified as holding a short position as of the 2008-09-18 close and which therefore may be subject to buy in today in order to ensure IB's compliance with this Order. We are currently in the process of determining what quantity of shares, if any, is available either internally or through third party borrows to meet our settlement obligation and will know that later today. We anticipate sending to you by approximately 12:00 PM Eastern Time a notice of your short positions which we are unable to cover and which will be bought in by IB if you fail to act and close our your short positions in a timely manner.
  2. market going up?

    Earlier today I took a cursory glance of 1929 and short sellers ....opinion then and opinion now, are you fly sr or junior or the III? Just kidding:D :D
  3. The buy-in would have been a great weapon, instead of the stupid short-selling ban.

    If there was a hard-line that dictates one or the other of the following MUST happen:

    1. locate
    2. buy-in

    there wouldn't be a need for a ban
  4. ya think????????

    I had a friend, Company Commander in Vietnam. They boxed an NVA company in a canyon. Killed them all. He caught 2 GI's cutting ears off the dead, and he courtmartialed them. He said,' they were fighting for what they believed and I respected them. They were professionals."

    These guys that did this to me, and now you can see you, were 'professionals.' And I respect them a hell of a lot more than my Industry (estranged) and the politicians who were supossed to protect me. This has just begun. We will chase them to Haites.
  5. Genius.

    Ok, whats to prevent them from reshorting it? No shorts? same as the ban.

    A country of idiots.

    Shows ya what we've become. So many LIBERALS think you can't say no to anyone, anytime , for anything.

    Illegal imms, bring em on. The more the merrier.

    TEMP Short ban to prevent meltdown, no good, not constitutional, not fair.

    I wonder if traders in Australia and other places have been so against this. I doubt it, they have more respect for themselves than most of you do.
  6. The buy-in or locate-borrow would be for existing naked shorts.

    They could re-short but there would *have* to be a locate-borrow.
  7. They'll try,. If they aren't hard buyins, with certs, they'll recycle again and in four days, fail again. It's a possibility, given Cox' ineptitude. We're on it. Feds are watching. I 'm not so sure the brokers are hungry for more scrutiny.
  8. Anyone can short again under the reasonable belief provisions of the order. Its the hard and fast settlement by T+4 your broker will hold you to.
  9. Wait till the offshore guys disappear leaving debits behind.
  10. tiger- you're groups beloved decrepit biotech - INGN is up 28% today, mind you its on light volume.. when the biotech sector is down aside from IMCL news....

    Must be the naked shorting :)
    #10     Sep 23, 2008