Naked Short Selling

Apparently, there is good reason why here in America there is only the giant bronze Bull, poised to charge, across the street from the NYSE, our markets have been rigged only to the upside, as a result the bear is conspicuously missing, wounded and trapped, to all of our detriment. When will Americans tire of the "bubbles" that keep growing and then suddenly burst. Why must every crash be a precursor to more and more legislation and interference by the government??

By allowing normal naked short-selling to take place, will in fact, actually reduce volatility and wild price moves because when news hits and new investors jump in, snapping up shares, the dearth of selling activity by existing share-holders, who are in it for the long term, will be mitigated by investors and traders who've decided the claims are suspect, the shares are overvalued or have legally discovered material information that hasn't yet found its way into the marketplace yet.

Without naked short-selling as an option the market becomes a haven for the criminals and con-men that currently control the over-the-counter markets. Without naked short-selling in a free market that rewards and penalizes investors through the quality and accuracy of their information, the market becomes what it is now, a rigged system without any accountability for anything said to the public until its woefully too late.

Just recently, I recall reading a remark made by the former lead prosecutor in my case, Kenneth Breen, who recently stiffed his partners and law-firm with a $250,000 un-paid legal bill, then jumped ship, in order to represent Bernard Kerik, the corrupt, mob-connected and disgraced former "top-cop" of NY. He asked: What gave me, a hedge fund or any trader the right to determine if a stock is a scam or not.

The answer is simple, the same right that I have to determine that a stock is good investment is the exact same right I have to decide if it's not. If it walks like a duck, looks like a duck and quacks like a duck, I don’t need to wait for the US government to tell me it's a duck. That right, to determine if a stock is good, bad or somewhere in between is not only my right, but the right of every single person who believes in a free capitalist market.

I don’t need the NASD, FBI or the SEC to tell me if a stock is a piece of shit, my nose works just fine. The question isn't "who made me boss" to decide which stock is good, which isn’t , what it's worth and what it's not, it's; Who the hell do you think you are to even ask such a stupid question ?? If the money is mine than it's my right to decide what a stock is worth to me, not the US govt's.

Should a short-seller fabricate negative information or lie or deceive the public about a company, stock or officer, he or she should be prosecuted to the same extent that those who lie and deceive on the up-side face. Therefore, there is NO argument as to why one direction should enjoy artificial protections while the flip-side does NOT.

We the public NEED to have the same access and the same rights to make a bet against a company, that is lying to us, that the TOP Firms in the US have. The NASD must open the gates to let all Americans trade in a fair, legal and orderly way that rewards the accuracy of information and penalizes those who deceive.

If one company has 10 million shares outstanding and those shareholders allow all 10 million shares to be loaned out and those 10 million shares are then sold short, it results in one group of shareholders, that combined, own 20 million shares and another group that owes and is short 10 million shares of that same company. There is no one from the SEC, the NASD or any agency that can explain what the difference would be if those same shareholders had no say in the matter and the 10 million shares that were sold short were sold short without first having to obtain permission ("borrowing") before making the same exact short sales. You still end up with the exact same two groups of investors, 20 million bullish shares and 10 million bearish ones.

There is simply NO logic , No explanation and No reason that can justify what the purpose of "borrowing" is, or what exactly it accomplishes, other than a way to allow the con-men and scammers to operate in a critic-free environment, and reserve one of the most profitable trading strategies in existence, for only the privileged few tapped by the NASD.

Allowing access to these trading strategies is how we will get the truth into the marketplace quicker and it is the only way to keep these issuers honest and on notice that what they say, will be checked out at their own peril.

Yes, it is true that I am currently in prison, but it is also true that I am the only American trader and short-seller who has ever been imprisoned for actually telling the truth about a stock, this isn’t something I made up, it's an undeniable fact, and something obviously, that needs to be rectified, in the meantime, it is my sincere hope that you the reader can look past the messenger and see the truth in the message itself.

In any event, it’s time, it’s time to finally speak up and it’s time to undo all the damage these artificial restrictions have done to our capital markets and the American public. It's time for everyone to DEMAND equal access to the same trading capabilities enjoyed by the country's most elite traders and firms. It's time to over-ride those who use confusing, circular and convoluted linguistic gymnastics and semantics in order to preserve their "special status".

The truth must come out, we NEED it out there otherwise we are all in jail, with our hands firmly tied to our sides, unable to benefit or profit if we get it right and they got it wrong. It's time to untie our hands & set us free. As Americans we must be able to profit by exposing and stopping the lies, the deception and the scams that have hi-jacked the truth. Quite simply, in a nutshell, if a share exists it must be shortable, period. Nothing else makes any sense.

The average American and the average trader have every right in the world in a free market to trade with the same privilege that the top few hundred firms and their respective traders have enjoyed for the past 217 years. As a market that allegedly has been moving towards greater transparency this unfairness and this corrupt and conflict ridden status quo against naked-shortselling is the ugliest fraud on American investors of our present time.

As my governor likes to say, I'll be back.

Very truly,

Anthony Elgindy
December 25, 2007

 

Now, before one of you morons comes out and says, "yeah, he's got it right!!!!"

Here is another post directed at Floyd Schneider, "the Truthseeker", who said he didn't work for Tony, until Tony came out and said, "he doesn't work for me anymore."

From: a-hole 5/19/2006 3:05:41 PM
of 94343

Maybe you knew about 9-11. You seem to know everything else except those
questions which you tend to forget or not address. Elgindy stated in the
transcripts ( site transcripts) that he was having a meeting with the SEC,
Milberg, and the FBI. One of the attorney's at Milberg actually answered him
on the site.
Does that jog your memory, or are you mentally incapacitated?

In case you can't figure it out, they were picking the next target for the SEC to investigate. So, it was Tony's "nose" that knew when a company was a piece of shit. You think you could make any money knowing the SEC would investigate TASR at 9 am on Jan 5, 2005?????????

 

This all needs much more investigation before any conclusions can be made.

 

The investigations are on going. You're just waiting to read about it. Should be any day now. And wait till you see who's involved.

Everybody.

 

Wow, even me? Awesome.

 

you're a victim, and guess what. You'll get to pay for the cleanup, too.

 

I lost some money here yesterday, and I knew the press release was false. But when you waft it down three, you really can't judge what kind of power play it is. Somebody needed to cover. With the basher traffic, and false press releases, people are under real pressure here. I'm looking for some national news. Only thing that would cause this kind of activity......... "mis-leading" press release. Old, old trick.

TASR TASER: Patent confusion creates buying opportunity - Jefferies (12.39 ) -Update-

Jefferies notes that a competitor (Stinger) that is accused on infringing on Taser's patents released a mis-leading press release that has caused temporary confusion in the stock. The firm says the I.P. under evaluation is associated with relatively immaterial part of Taser business, as the M-26 model will contribute approximately 2% of sales in C07 and should be a declining revenue stream going forward. The firm thinks yesterday's pullback offers an attractive buying opportunity for investors.

 

The Sealed Transripts of the Elgindy trial are being released. Here are the first batch...........

http://investigatethesec.com/drupal-5.5/Elgindy

You 9/11 conspiracist theory guys will love this. If you are so inclined, Digg It, so the papers show up when researchers are looking for such material. Thanks.

Oh, much more will be released in the coming weeks, I understand. If that's the case, you should be reading some names with which you are very familiar. Now, it's out time.

 

http://community.overstock.com/deepcaptureblog/

brilliant piece. I lived it. It is succinct, and shows you how fucked we are. The agency meant to protect us has allowed the Chinese and Kuwaitis to come here and buy us out for pennies on the dollar, because they didn't stop these morons from destroying themselves, or something like that.

Chapter two is uglier.

 

Anthony Elgindy had a network where he actually published his naked shorting, inside information, paying reporters off scams. It was a tiered system. The price of this was as high as three thou a month. What he didn't know, was one person copied it in hardcopy, and hung him with it. I haven't read what is here; I have read pages of this stuff in the past. Govt agencies have had it, the Wall St. Journal has it, and I'm assuming other publications have it. I wanted it released a long time ago, because you'll see how "smart money" gets smart. It is remarkable in the fact that it has been pushed aside until now. Enjoy. Any questions, post them here. I"ll try and get them answered..

http://investigatethesec.com/drupal-5.5/node/114