NAKED SHORTING...MUST READ!!

[BeauBeau]

Olandug,

Your comments or any feedback in reference to my following post would be greatly appreciated! Please correct me if I'm wrong...
I actually do wish to learn more.. I posted this on the RFMK Board earlier today:

Most "Longs" here literally have no idea just how much "Air" they own. Supposed to be DTCC "Chilled" stock, yet the NSCC, which reports daily Naked Short Sales, has quite the recent history of "Naked Short Selling" in RFMK. If I were a "LONG" here...
you bet your azz I'd be making a stink about this!!!!!

http://otcshortreport.com/RFMK

If people go into and read Finra's Rule 4320.. MM's can dump up to $50K in shares per week.. without immediate reconciliation being required.. All JMO of course!!!

This is a cut from Rule 4320...

(A) for which there is an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency of 10,000 shares or more and for which on each settlement day during the five consecutive settlement day period, the reported last sale during normal market hours for the security on that settlement day that would value the aggregate fail to deliver position at $50,000 or more, provided that if there is no reported last sale on a particular settlement day, then the price used to value the position on such settlement day would be the previously reported last sale

I read above and it appears to me that up to 50G's of aggregate air shares can be dumped into "Any" non-reporting pinky on a weekly basis!


http://finra.complinet.com/en/display/display.html?rbid=2403&element_id=9398

If RFMK has 400 Share Holders and each of them owned an average of 5M Shares... Guess what.. That would be 2B Shares.. hmmmmmmmmmm???

All JMO of course!!!