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Yep, no more fake walls to keep us down if Im translating it correctly.
In short, I dont think they can sell us shares they do not have
Rule 3210 defined in English
pennystockgurus.blogspot.com/2010/05/rnwf-50000-coming-into-this-stock-in.html
Q & A on Nasdaq Rule3210/ OTC Rule 4320 from 2011
Q: What’s new about what the SEC approved Wednesday?
A: There are a couple new elements to the rules. One element is essentially an updated version of the uptick rule. The second is a new “circuit breaker” component.
Q: Whoa, I’m already lost. What’s the uptick rule, again?
A: This was a rule — created during the Great Depression — that said traders could only sell a stock short after it rises, i.e. an uptick. The rule was abolished in July 2007. But as the markets tumbled in 2008, there was a general clamor to bring back the uptick rule. The SEC wrote up some proposed rules, asked for comments about it and after reviewing them voted on the new rules today.
Q: Ok, so what’s different about the new uptick rule versus the old uptick rule.
A: Under the old rule, you could short sell at a price above the last trade price, or after the last price was higher than the previous price. Under the new rule, you wouldn’t be able short unless someone was willing to buy it for more than the national best bid. (That is, for a higher price than anyone is currently offering to pay.)
Q: It seems like it’d be hard to find someone willing to pay more for a stock than they have to.
A: It probably would be. That’s the idea. This is supposed to be a curb on shorting.
Q: What’s the advantage of using the best bid versus the last uptick?
A: The SEC says “among other reasons, we believe that bids generally are a more accurate reflection of current prices for a security than last sale prices due to delays that can occur in the reporting of last sale price information and the manner in which last sale price information is published to the markets.”
Q: Ok, got it. Can’t short unless you can get someone to pay more than the current best bid for the stock.
A: That’s only part of it. The second part is “circuit breaker” element.
Q: Oh yeah. What’s that?
A: That part of the rule says that the shorting curbs come in when a stock’s price falls 10% from the previous day’s close.
Q: For how long?
A: For the entire day in which the shares fell below 10 percent and for the following day.
Q: How many stocks is this going to effect?
A: The rule will apply to stocks that are listed on exchanges and traded over the counter. The SEC estimates that about 1.3% of stocks would hit that 10% barrier on any given day, according to Dow Jones. Of course that would likely go up during times of major market stress and volatility, such as the kind we’ve seen over the last couple years.
Q: Wow. It’s certainly refreshing to have such a concise and pithy explanation of such as dry topic. A tip of the cap to you, good sir.
A: No worries, we aim to please.
Time to cover!
Courtesy of my boy Blue!
It also looks like some shorts will be forced to cover. According to Reg Sho list, VDSC is flagged for rule 3210. So I think that means a mandatory close-out of the market makers short positions. Add some news to this and you could very well get your .10 pps this month.
www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold
Rule 3210. Subject to the requirements of NASD Rule 3210
Where, for five consecutive settlement days, there are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more and the reported last sale during normal market hours would value the aggregate fail to deliver position at $50,000 or more.
When this occurs, the security becomes subject to mandatory close-out requirements outlined in NASD Rule 3210/OTC Rule 4320.
The allowed values are:
Y = Yes, if the issue is subject to mandatory close-out requirements of Rule 3210.
N = No, if the issue is NOT subject to mandatory close-out requirements of Rule 3210.
81 raise your bid
87 move back your ask
Cheap plus dumb will not get you anywhere.
I taste it myself!
C'mon peeps, spank it like you want it!
Yes sir! Traders with deep pockets!
Go time!
87 feel free to back it up some more, dont sell too soon buddy!
Penny obliteration will consume today
Weeeee!
I suspect news will allow us to plow thru that and continue to Silvertown
I'm going to be bold and predict we touch .015 today. We may not close there, but I think it's possible.
I dont think that is going to be a problem. When it was a resistance last time, it was easily broken thru many times.
Good Tuesday Morning VDSC!
Accumulation is very strong, charts a beauty, No dilution, No R/S, pipeline is loaded with great news, and pennyland is in our grasps!
We gotta great board here with plenty of seasoned traders to back every bit of this up. Let's continue forward towards that pot of silver!
VDSC! GO BIG OR GO HOME!
8 crumbling!
8's are a lot thinner from this morning!
"Rocket maaaaaaaan!" in my best Elton John voice!
Let's clear the way folks!
Yep, If you are willing to drop $9K on VDSC, you are most certainly expecting a huge return
VDSC! GO BIG OR GO HOME!
Time to play Penny Peek-A-Boo!
"I gotta feeling!" in my best WILL-I-AM voice.
Only the best of the best consume these shares doog!
LOL, no shame, if she's not a household name, she should be!
Float is being swallowed Heather Brooke style!
1.2 milly bidding....hows that for speculation BOOM!
Yep....we know what happens next.
0 dilution per CEO and No R/S per CEO, plus a suspected buyback = No brainer BUY!
Yep....he gonna get Catfished if he dont smarten up
.10 pps short term wanted, .50 pps wanted 2013 people!
They can throw hundreds of thousands up on the ask all they want, smart money is playing here and will swallow them whole!
Smart money playing!
Time for a game of Penny Peek-a-Boo!
"Float is getting LOCKED UP!"....in my best Akon voice
89's wanna spankin like Angel!
Swing batta batta, SWING!
VDSC flexing!