SEC Extends Order Limiting Naked Short Selling Through August 12

Discussion in 'Wall St. News' started by EricP, Jul 29, 2008.

  1. lol i love it. did the strict short sale rule prevent fnm and fre from crashing 60% the last 2 weeks? how about jpm $43-$36 the last 2 days? how about 2 1/2 weeks ago when mer hit $32 only to fall to $22. all these were on the list of hard to borrow. its bs and doesn't work to restrict liquidity.
     
    #31     Aug 13, 2008
  2. It's beyond me how one can speculate going short without borrowing and not getting penalized. I mean, if I opened a car dealership and sold cars with deklivery in one week and never delivered at due dates, that would be fraud and prison. Typical government intervention to stall the whole market to stop the "fraud".
     
    #32     Aug 13, 2008
  3. In that case, they should let me print money, as it would DEFINITELY increase the money supply for the economy! :D
     
    #33     Aug 13, 2008
  4. No. A closer analogy would be if you opened a car dealership and the CUSTOMERS sold you cars without first taking possession of them.
     
    #34     Aug 13, 2008
  5. Still fraud. They don't deliver.
     
    #35     Aug 13, 2008
  6. http://ftalphaville.ft.com/blog/2008/08/13/15048/naked-short-selling-laid-bare/

    Great chart here, but I can't get it to copy to ET. any of you computer geeks out there, it's a good read.

    and as to the LOL crowd. The order was meant to be sure the law was to be obeyed. It said nothing about the price of the securities. The above proves that, if the law is obeyed, the fake supply lifted, and the stock will rise. Eventually, the stupidity of these managements will prevail, but at least they have a fair chance at a capital raise.
     
    #36     Aug 13, 2008
  7. ak15

    ak15

    It is BS with a capital B and a capital S. The SEC's measure didn't do a thing to the real culprits who just shorted away to glory.
     
    #37     Aug 13, 2008
  8. You have to believe they believe the agency stays bought. Just the arrogance with how they act shows you that.

    The DOJ is not so forgiving. And it's coming.
     
    #38     Aug 13, 2008
  9. Here you go... but I'm not a geek, you nerd! :p

    <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2028406>

    I know that nobody cares, but there's absolutely no logical reason to punish legit short sellers who have done absolutely nothing wrong! If mosquitoes are bothering you, swat the fucking mosquitoes all day long- but leave the songbirds and honeybees in peace. The NSS scumbags could all be placed to rot in pound-me-in-the-ass prison for all I care. Punish them, not us.
     
    #39     Aug 13, 2008
  10. I highly doubt that, since all of their shares can easily be borrowed legitimately.
     
    #40     Aug 13, 2008