This is not new and shorts have been doing it for years: the market-makers will roll the short position so the stock never has to be purchased and never technically appears on their books. It's a form of inverse front-running where they keep extending the settlement period. I think there was a stink a bit over a year ago when someone from the SEC tried forcing some of the brokers to purchase the stocks. Not sure what came of it. Regards,
If you would like, I'll post Eagletech's complaint that was authored by using 50,000 pages of discovery that the SEC was sitting on, presumably to let six years pass. One guy, one hundred accounts. We know they just pass the stock from account to account. It 'resets' the fails. don. Hate to tell you this, but a lot of that stock isn't being borrowed. That's what Chanos complaint vs. the Prime Brokers is. It's good margin to fake locates on hard to borrows, and it's done everyday. Talking to a legit manager the other day who knows he's getting hosed. Told me he can short whatever he wants, whenever he wants off the platform. I suggest, for those interested, go to Vodiagroup.com. Josh Galpin has some good stuff up there you can look at. But the borrows are faked a lot of the time. Don, you'd never know. BTW. We know they lend restricted stock, too. Yup. You know, I didn't ask for this fight. It was brought to me, and I've suffered dearly. I'll be the first to admit it. But I'll be goddamned if I'm going to be screwed and not kissed. I've very heartened that finally, after all this time, people are started to go, 'hey, wait a minute". thank you ET'rs for hearing me out. If you care about the markets, you have to be concerned about the current system. I guess I'm just tired of this happening to me while I'm alive. BTW, If homosexual necrophilia bothers you, don't watch. http://youtube.com/watch?v=wiFOUs2qA9E
the SEC is such a joke. small time token offenses? sure we'll enforce them. large scale endemic abuse of retail traders and investors? no bust
No need to provide documentation, as I said, I defer to you on this issue. I was not aware that you are a principal in this matter. And, even though I feel pretty "market savvy" - I am the best versed on how things "should" be done, and have always tried very hard to learn the rules and comply with them. As I said, I was addressing that particular stock and it's valuations more than the WStreet shenanigans. I wish you well with your pursuits. Your dinner invitation here in Vegas is open ended! Don
I look up to you as someone who has become successful by playing by the rules.Unfortunately, many of the big names you read about are nothing more than sllight of hand artists who rarely do legal trades. I'm not a principal, but I've put a lot of people together who are making a real difference. Think of all the real talent out there that can't get a break, because other guys break the rules and outperform. Did you see the Fidelity stuff about the gifts and illegal drugs? Know how hard it is to compete against that? Horrible. That's why I always look to Bright Trading as an example you can succeed and not cheat.
Do some searches for KOTZ. he' s the new IG for the SEC. Search for Aguirre, Gary. He blew the whistle. Now this Kotz fellow is saying publically he's reopening the Pequot Investigation. That includes John Mack. If Mack is smart enough to invest 5mm and within I guess it was 90 days pull 16 out, he hasn't got anything to worry about. If you really want an insight as to how it works, you need to read Aguirres testimony to the US SENATE JUDICIARY. It is unbelieveable. And it all makes so much sense. When he goes to pull the trigger, they fire him. Samberg is talking to a Microsoft employee, goes from negative on Microsoft to buying a slug of calls into earnings, makes a score, hires the guy, and before the guy arrives, Samberg tells everybody the new guy has already earned his keep. You try that ET'rs. Youll be on bread and water so fast you'll head will spin.
One thing about this guy, he says it like it is, and he doesn't get sued - for a reason! It's all true. If you go to deepcapture.com, you'll see the relationship between Steinhardt, Cramer, Rocker, Fischback. Patrick is a scholar, and he attacked this like a scholar. There is other stuff that has happened I'm not at liberty to talk about, but let me say the Wall St. Crisis will get much, much worse, the public will be shocked, again, how Wall St. has fleeced them, the pensions they own, on and on, and you'll see the collapse is imminent. It is unbelieveable to me that people who can live in 40 mm homes have to do the things they do. -------------------------------------------------------------------------------- Overstock.com to Gradient Analytics and Rocker Partners: Where's the Countersuit You Threatened? Overstock.com, Inc. is an online "closeout: retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com is a publicly traded company listed on the NASDAQ National Market System, headquartered in Salt Lake City, and can be found online at www.overstock.com. (PRNewsFoto) SALT LAKE CITY, UT USA Overstock.com Fights Campaign of Stalls and Lies by Rocker and Gradient SALT LAKE CITY, March 8 /PRNewswire-FirstCall/ - Overstock.com(R) (Nasdaq: OSTK) President Patrick Byrne issued the following response to Gradient Analytics' notice of appeal, filed in response to the California Superior Court ruling denying Gradient's Anti-SLAPP Motion to Strike all causes in the Overstock.com lawsuit: "Eight months ago Gradient and Rocker were thumping their chests threatening to counter-sue us. I said at the time that they would not because these miscreants could not survive the discovery a counter-suit would trigger. They still have not filed suit, and now, once again, they are doing whatever they can to stall the discovery process. I once again invite them to counter-sue, and let us move to discovery quickly." "In addition, while Gradient, Rocker and their cronies attempt to spin this as a First Amendment issue, let me remind observers that the activities described in our witness's declarations are covered by a technical term: 'illegal.' It is 'illegal' to let favored clients doctor research then publish it as independent; it is 'illegal' to permit such clients to front-run that same research; it is 'illegal' to front-run it themselves through hedge funds they secretly control. Their arguments that this conduct is somehow all protected by the First Amendment were roundly rejected by the Honorable Vernon Smith, whose decision these blackguards now dismiss as an 'erroneous trial-court ruling.' Good luck with that, fellows." Overstock.com filed its original lawsuit against research firm Gradient Analytics and hedge fund Rocker Partners in August 2005 when it learned the firms colluded to publish false and misleading research in a scheme to engineer stock fluctuations from which Rocker and Gradient's owners could front-run stock trades while harming Overstock's reputation with consumers, suppliers, and employees. About Overstock.com Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ National Market System and can be found online at http://www.overstock.com. Overstock.com is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies. SOURCE Overstock.com -------------------------------------------------------------------------------- Link to this page: back to top Related links: http://www.overstock.com Photo Notes:http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a AP Archive: http://photoarchive.ap.org PRN Photo Desk, photodesk@prnewswire.com -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Issuers of news releases and not PR Newswire are solely responsible for the accuracy of the content. Terms and conditions, including restrictions on redistribution, apply. Copyright © 1996-2008 PR Newswire Association LLC. All Rights Reserved. A United Business Media company.
Mitchell, while at CJR, was going to write a story. It went on and on, and he just disappeared. Later, we found out he was threatened with the murder of his four year old son. Here is some more. Patrick has 8000 emails a dark side source gave him. It appears Mitchell is back, and they will out some big name Journalists. Should be a great read. http://deseretnews.com/article/1,5143,695259654,00.html