If yes, then why is the SEC and NASQUACK allowing it? NTRI, CROX and VCGH are being naked shorted to death and the shorters are failing to deliver. Isn't this fraud? Comments?
yes it's illegal and a total fraud, supported, upheld and hidden by the SEC. It's destroyed good companies, stripped investors of their wealth and lined the pockets of Gordon Goko's in high places. Investors don't understand, don't ask for share certificates and brokers assist in the fraud. But most investors don't have a clue what you are talking about and how easy it is done and so it continues.
The problem is that nobody is enforcing it. Look at the failure to deliver list. It is sickening and destroying companies.
Yes it's illegal, but only enforcable against retail traders like me. My broker will not allow me to short anything if ther isn't stock to borrow. Exchange members can play games though, and they are the ones pulling shenanigans.
Precisely why the Fed is moving in. Short and distort is actually naked short and distort. Even if they are right, as they often are, it is illegal. Also, if there is a company you want to short, not only will you not get a locate, the puts will be juiced out of sight, and make it neigh impossible for you to participate in your idea. There are many threads on this. OSTK, OSTK CEO, and Naked Shorting.
I could say, "where were you guys????" But that would be counter productive. Welcome aboard. You see what the arrogance and greed has brought us? And it is no where near over. Look at this: "We need a single regulatory body like the UK's Financial Services Authority," Pitt said in an interview with The Associated Press. "One that practices prudential regulation and tries to help people get it right, rather than the current philosophy of punishing people after the fact." This guy was the Chairman of the SEC!!!! I don't have any idea what he was doing while he was there, because I knew what was going on. But he did nothing. All I can say now is, 'welcome aboard'.
WHich firms are best to join for those of us that love naked shorting???.....thanks........pm me is you feel it better to contact me that way