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Shakerzzz, I can't believe you did not play USXP recently, looks like she almost ready again..IMO...
Eagle1,
Lifegear, very interesting,-----
Got any DD on this shell?
Please email me at eagle1x@aol.com
Eagle1,
ruluid, any idea of when bkmp will go to a higher exchange and if they are working on that?
thanks....
Eagle1,
itsmikie are you pumping again? Whats your target pps once she moves north?
Eagle1,
RU News next..IMO...and does anyone know what the companies intentions are for moving to a higher board?
thanks,
Eagle1,
dakota dad, look at the tape and watch the last sales....you will see that alot of the volume is wash trades and not normal trading...IMO
Eagle1,
USXP: MM's loading up to go to pennies IMO..they did the EXACT same thing with QBID before the hard launch was announced..
Look at the phantom volume, MMs at their best....Dont be fooled....
If the ANS deal goes thru, and I believe from the phantom volume and NSS covering lately, its gonna be done and we move to pennies..;)
This is based on opinions...
Eagle1,
BKMP: Thanks Varok... }}
By: Varok
08 Feb 2006, 02:12 PM EST
Msg. 36270 of 36273
Jump to msg. #
Good Afternoon,
I trust everyone is doing well and nice to see many posters making good use of this forum.
I have a pick that I think you will like and if you do your DD from the link below you will agree the potential to make some great wealth..
This issue is very much undervalued and shorty has been covering the last few weeks and it appears he may be about done..I expect anyday or in the very near future of great NEWS that the fightnetwork will be available in America near you on your cable channel.
*** BKMP ***
I have been following this issue since the symbol change from FCDH..
I have been acquiring and have a very large position..
Now I can give a target but in pennyland these targets are never based on fundamentals..What I will say is that this issue and if you look at the likes of USXP,GZFX,PLNI, and others,this issue, give or take about the same O/S and less in the float than the above..At this price of .0005 with their business model,you must agree that a price of .005 or higher is easily obtainable.
The problem was Shorty and from many investors who have been in contact with the CEO and the T/A the company is not diluting..Read the latest PRs for more info..
This is now a whole new company with a great business model and in my opinion and I'm sure many of you will agree,"One Exciting Fight Channel"..
Some of you are familiar with SPIKE TV and their version of KickA&& programs and this is the hottest trend going.
BKMP has the www.fightnetwork.com and is ready to come to America..The company is already and has been airing in Canada since Sept 2005..
They have hired a Market Media firm and Trijectory Sports to bring it to America and Europe.
This is hot and the perfect entry is now.
Here is a DD page and will explain everything you will need to know about this great upcoming fight Channel near you.
http://www.investorshub.com/boards/board.asp?board_id=4486
Do your DD and invest responsibly.
BKMP: Thanks Varok... }}
By: Varok
08 Feb 2006, 02:12 PM EST
Msg. 36270 of 36273
Jump to msg. #
Good Afternoon,
I trust everyone is doing well and nice to see many posters making good use of this forum.
I have a pick that I think you will like and if you do your DD from the link below you will agree the potential to make some great wealth..
This issue is very much undervalued and shorty has been covering the last few weeks and it appears he may be about done..I expect anyday or in the very near future of great NEWS that the fightnetwork will be available in America near you on your cable channel.
*** BKMP ***
I have been following this issue since the symbol change from FCDH..
I have been acquiring and have a very large position..
Now I can give a target but in pennyland these targets are never based on fundamentals..What I will say is that this issue and if you look at the likes of USXP,GZFX,PLNI, and others,this issue, give or take about the same O/S and less in the float than the above..At this price of .0005 with their business model,you must agree that a price of .005 or higher is easily obtainable.
The problem was Shorty and from many investors who have been in contact with the CEO and the T/A the company is not diluting..Read the latest PRs for more info..
This is now a whole new company with a great business model and in my opinion and I'm sure many of you will agree,"One Exciting Fight Channel"..
Some of you are familiar with SPIKE TV and their version of KickA&& programs and this is the hottest trend going.
BKMP has the www.fightnetwork.com and is ready to come to America..The company is already and has been airing in Canada since Sept 2005..
They have hired a Market Media firm and Trijectory Sports to bring it to America and Europe.
This is hot and the perfect entry is now.
Here is a DD page and will explain everything you will need to know about this great upcoming fight Channel near you.
http://www.investorshub.com/boards/board.asp?board_id=4486
Do your DD and invest responsibly.
BKMP: Thanks Varok... }}
By: Varok
08 Feb 2006, 02:12 PM EST
Msg. 36270 of 36273
Jump to msg. #
Good Afternoon,
I trust everyone is doing well and nice to see many posters making good use of this forum.
I have a pick that I think you will like and if you do your DD from the link below you will agree the potential to make some great wealth..
This issue is very much undervalued and shorty has been covering the last few weeks and it appears he may be about done..I expect anyday or in the very near future of great NEWS that the fightnetwork will be available in America near you on your cable channel.
*** BKMP ***
I have been following this issue since the symbol change from FCDH..
I have been acquiring and have a very large position..
Now I can give a target but in pennyland these targets are never based on fundamentals..What I will say is that this issue and if you look at the likes of USXP,GZFX,PLNI, and others,this issue, give or take about the same O/S and less in the float than the above..At this price of .0005 with their business model,you must agree that a price of .005 or higher is easily obtainable.
The problem was Shorty and from many investors who have been in contact with the CEO and the T/A the company is not diluting..Read the latest PRs for more info..
This is now a whole new company with a great business model and in my opinion and I'm sure many of you will agree,"One Exciting Fight Channel"..
Some of you are familiar with SPIKE TV and their version of KickA&& programs and this is the hottest trend going.
BKMP has the www.fightnetwork.com and is ready to come to America..The company is already and has been airing in Canada since Sept 2005..
They have hired a Market Media firm and Trijectory Sports to bring it to America and Europe.
This is hot and the perfect entry is now.
Here is a DD page and will explain everything you will need to know about this great upcoming fight Channel near you.
http://www.investorshub.com/boards/board.asp?board_id=4486
Do your DD and invest responsibly.
Ruluquid, or a good long...When is BKMP expected to run ??
Thanks...
Eagle1,
Ruliquid, Thanks.. ;)
YGM...
Eagle1,
RULiquid, Thanks for your DD and efforts, a question...
When The Fight Network is PR'd, what pps are you thinking BKMP will go to?
Also, when do you expect this to occur...?
thanks
Eagle1,
Posted by: RULiquid, In reply to: None Date:2/7/2006 5:47:23 PM
Post #of 33015
I'll make a DEAL with all naysayers on this board! IF we don't see The Fight Network on Direct Tv or Dish in the USA by sometime in the Spring. I will leave IHUB forever!
Kingfisher, I concur....see you at the bell..>>
Please come by and register and visit us at http://usxp.proboards79.com/index.cgi
Your input will be greatly apprecated there...!
Eagle1,
Kingfisher, when we break .01 (tommorrow) how high you seeing her go? .03, .05, .08ish???
She is moving no dougbt, would like to hear your thoughts??
Please come visit us at http://usxp.proboards79.com/index.cgi
We would love for you to register and chat with us... ;)
Kingfisher, Thanks, Looking for serious gapping from here on out looks like .01 this week IMO...
Yes, Im very happy! How bout you?
Eagle1,
Come visit us at http://usxp.proboards79.com/index.cgi
We would love to have you over and register ;)
USXP: What a great close today ....007, tommorrow could be better..IMO
Eagle1,
itsmikie, how you been? Went to the Island a few weeks ago and stayed at the Moody Garden Hotel...nice place....would have looked you up, but did not have your number..
Yes, I rode QBID up with you (wink, wink)....so come over and say hi at the USXP board and PM me there...I will explain more..
http://usxp.proboards79.com/index.cgi
Eagle1,
USXP looks to be in NSS cover squeeze mode by MM's, CEO say 30 billion NSS.
USXP (OTCBB) is in talks now with ANS (AMEX) possible buyout, could go to AMEX, killing shorty....IMO
Come visit us at go http://usxp.proboards79.com/index.cgi
Eagle1,
Thanks Pennypicks...
Eagle1,
BKMP: Anyone, when is BKMP expected to go into pennies?
Also, what will drive it up to pennies?
Any thoughts?
Thanks,
Eagle1,
Your invited to come visit us at the USXP board http://usxp.proboards79.com/index.cgi
USXP: Hope this week will be as good as this past week...IMO...
Come visit us at http://usxp.proboards79.com/index.cgi
WE would love to have you over...
Bashers Beware... ;)
Eagle1,
07, thanks for the Share Structure info ;)
Eagle1,
P.S. Any ideas when BMKP will move to pennies??? Any projections? Deals in the works etc???
BKMP: Anyone got the latest Share Structure ?
Also, everyone please come and visit us at the Proboard USXP
http://usxp.proboards79.com/index.cgi
Eagle1,
BKMP: Thanks Varok.... Nice post...}}
Varok wrote:
Good Afternoon,
It's not a question of refusal,but the fact that FCDH before the name change was NSS to the hilt like many pennies..IMO
What became confusing and rightfully so to the DTC was when the symbol change to BKMP happened..This turn of events put pressure on the DTC to balance for the correct issue of numbers to ratio of shares on divvy based on FCDH not BKMP..This could not have happened on the new symbol change,but the accurate count had to come from FCDH where the original divvy transpired from.
What is now happening is an effort to cover all NSS on FDCH to balance for correct issuance of divvy..
When Sandy announced a divvy based on 1 for every 6 of FCDH and then the symbol change to BKMP the DTC knew that there were so many millions of shares NSS,but very well could not based on distribution allow the going forward until they balanced or covered to make the transfer smooth or accurate.
Straightforward without balancing or correcting the NSS situation many would be getting Virtual shares of the divvy distribution and the eventual outcome would create total nightmare scenario that would probably issue well above the authorized allotment of the new company..
It isn't Sandy's fault or your broker,but the direction of the fault lies within the DTC..
No the screw-up is this NSS and the need to cover so the actual numbers can be balanced out..
Just my opinion.
Have a good day
Varok
Latest from DR D on USXP today!!! }}}
Hi Eagle,
You are welcome for the stock pick.
Hopefully we are seeing a market cover as I could see no other news or information that would or could have driven the PPS in the upward trend that we have witnessed. I expected that if we were to see a cover begin then this is exactly what we would predict would happen. I'll kind of summarize might opinion for you. It is just my opinion and could be absolutely wrong so I do ask that you treat it as such.
1. The covering would begin slowly and the market gauges how many shares they are going to be able to pick up for the money they are having to pay out.
2. The first couple of days are gradual as to not draw much attention to the covering and hopefully catch unsuspecting shareholders that have been depressed in an anxious moment and hit the key pad wanting to get out what they can before it topples again.
3. After the initial moves the decision is made to cover and give it a full one day run and see where it goes.
4. The buy-in pressure keeps the shares coming and the PPS climbing netting over 2 billion shares.
5. Prior to the 3:00 crunch time the buyin removes the buying pressure and pullsback leaving the PPS to be supported only by the buying pressure of Day Traders and normal retail investors.
6. The supply (shares to be sold) attracted to the table by the increase in the PPS far outweighs the retail demand causing the PPS to stagger and begin to topple.
7. The market counts on this to happen so they can recover the same price ranges tomorrow gaining new shares starting at .0044 instead of .008 saving them more than likely 50% on their expense of covering if they didn't pull back.
8. In the AM more than likely the sell off will continue for the first 30 minutes or so until the PPS is in the mid 30 range and then the process will begin all over again.
9. If the market has time to do it and are not beeing motivated by a time table then we may see a gradual 2 to 3 day buyin netting billions of shares at prices ranging from .0035 to .0055 before a significant run begins again.
The market can little afford to just keep buying shares at what ever price shows up on the ask. They will mess with all USXP shareholders one way or another.
If the market is on a time schedule and they do not have the luxury of 2 and 3 day delays in the covering, then it could jump and run from .0044 in the AM.
Whatever the case it is going to be interesting.
Once again I would remind that this is just my opinion and could be absolutely wrong so I do ask that you treat it as such.
Success can come in many stages if we are prepared.
Dr.D
----------------------------------------------------------------
Everyone is welcomed to come and sign up and visit at the best USXP board on the net.
http://usxp.proboards79.com/index.cgi
You got it Fringe, and Thanks!!!
Eagle1,
One Team, One Goal!!!
P.S. I appreciate all of your great DD and dedication that benifits all shareholders , my hat is off to you ;)
Please email me at eagle1x@aol.com when you can
Art and Ohbull thanks for the GREAT DD..please come visit us at
http://usxp.proboards79.com/index.cgi
USXP is on fire right now, MMS are covering IMO...going to .08ish, before all covered IMO>>>
Eagle1,
Thanks Fringe, sorry for any inconvenience....
Did you see it today?
Eagle1,
USXP: over 100% gainer each day for last week...thanks bashers for saving me...LOL>>>>>
come visit the best USXP board on the net at
http://usxp.proboards79.com/index.cgi
Eagle1,
USXP: in Breakout MODE,
please come visit us at
http://usxp.proboards79.com/index.cgi
Fringe can you do a Chart of USXP for us???
Unbelievable NSS info ... IMHO
from Dr D
On a WebCast Wednesday, 21 Dec 2005
link to the webcast is at usxp.com
This is the actual link,
http://viavid.net/player/dcem.aspx?sid=00002C19
but you may have to enter a name, email, and number (takes about 20 seconds) to get the webcast. It is around 60 minutes long, but the NSS info is about 5 to 15 minutes into the webcast. The whole thing was interesting and his Attorney was there with him, so I would think he was stating what he could back up.
There was quite a bit of info, but this is what I wanted to share with the board.
USXP - CEO Richard Altomare revealed the naked short totals that got them the $700 million settlement.
It began in 1998 and the naked short position was:
"20 times" the legitimate FLOAT
No totals were shared
He continued to state that the
CURRENT "naked short position"
being held against USXP is
"8 times the entire Authorized Shares"
The Authorized is 3.9 billion making the NSS position approx 31.2 billion - TODAY
Dr D
----------------------------------------------
Got USXP?
Come visit us at http://usxp.proboards79.com/index.cgi
USXP: Fringe USXP in Breakout MODE, please come visit us at
http://usxp.proboards79.com/index.cgi
Fringe can you do a Chart of USXP for us???
Unbelievable NSS info ... IMHO
from Dr D
On a WebCast Wednesday, 21 Dec 2005
link to the webcast is at usxp.com
This is the actual link,
http://viavid.net/player/dcem.aspx?sid=00002C19
but you may have to enter a name, email, and number (takes about 20 seconds) to get the webcast. It is around 60 minutes long, but the NSS info is about 5 to 15 minutes into the webcast. The whole thing was interesting and his Attorney was there with him, so I would think he was stating what he could back up.
There was quite a bit of info, but this is what I wanted to share with the board.
USXP - CEO Richard Altomare revealed the naked short totals that got them the $700 million settlement.
It began in 1998 and the naked short position was:
"20 times" the legitimate FLOAT
No totals were shared
He continued to state that the
CURRENT "naked short position"
being held against USXP is
"8 times the entire Authorized Shares"
The Authorized is 3.9 billion making the NSS position approx 31.2 billion - TODAY
Dr D
----------------------------------------------
Got USXP?
Come visit us at http://usxp.proboards79.com/index.cgi
HUGE close today, tommorrow we continue..IMO...
USXP, Looks to be in a NSS cover mode, everyone, Dr D mentioned this stock at .0004 and its now at .0019 ish.
Look at the Chart on this one, could break the 200MA, target is .08ish by DR D.....IMO
Thanks Dr D...
Everyone come join the fun at http://usxp.proboards79.com/index.cgi
Eagle1,
Here is the latest from Dr D on USXP...
Re: WOW - .0019
« Reply #5 on Today at 4:15pm »
--------------------------------------------------------------------------------
This is going to be interesting to play all the way up. I usually wouldn't bet the peaks and valleys, but I want "SHORTY" to pay me all the way and especially for those that no longer have a voice with USXP as they probably sold and gave up long ago.
ETRD on at .0019 and everyone is backed up on .002 and .0025 at close.
Oh Yeah!
I thought it was interesting that I had a few shares sell before I could shift a price on USXP to .0019. As soon as I changed my order I received an urgent message from Ameritrade Apex that since I was a -$1.98 in my account a "margin call" may be initiated against my account to remedy the deficiency.
It seemed to me that the market is in a cover mode on USXP and anyway that they can get shares will be utilized.
Be careful in your account. I sold a few shares to cover the huge $1.98 cash that Ameritrade was worried about. Amazing, that I have several accounts with Ameritrade and that particular margin account is worth in excess of $500,000 and they panic over $1.98. A little more than coincidental I think. The warning came within seconds, making me think that it is keyed in to the system on a "cover" of this nature.
JMHO
Success.
Dr.D
Got USXP? Come by and visit us at
http://usxp.proboards79.com/index.cgi
Eagle1,
151 are you a shareholder of USXP shares?
tia
Eagle1
P.S. Come visit us at http://usxp.proboards79.com/index.cgi
If you have that attitude there, we will have to BOOT you back on the street..
Got Naked Shorted USXP?
Lets not forget the NSS that USXP has at least from last Decememer 05, ccording to the CEO in the calculated at 30+billion,.....IMO
from Dr D...
On a WebCast Wednesday, 21 Dec 2005
link to the webcast is at usxp.com
This is the actual link,
http://viavid.net/player/dcem.aspx?sid=00002C19
but you may have to enter a name, email, and number (takes about 20 seconds) to get the webcast. It is around 60 minutes long, but the NSS info is about 5 to 15 minutes into the webcast. The whole thing was interesting and his Attorney was there with him, so I would think he was stating what he could back up.
There was quite a bit of info, but this is what I wanted to share with the board.
USXP - CEO Richard Altomare revealed the naked short totals that got them the $700 million settlement.
It began in 1998 and the naked short position was:
"20 times" the legitimate FLOAT
No totals were shared
He continued to state that the
CURRENT "naked short position"
being held against USXP is
"8 times the entire Authorized Shares"
The Authorized is 3.9 billion making the NSS position approx 31.2 billion - TODAY
Dr D
-------------------------------------
Still pretty interesting hey?
Eagle1,
P.S. Come visit us at http://usxp.proboards79.com/index.cgi
Bashers Beware, constructive discussions are welcomed greatly, but any personal attacks there and we will have to give you the boot, sorry...LOL..
News today: Universal Express Offers to Solve the $100 Million Security Fees Billed to Airlines by the TSA
Thursday January 26, 12:17 pm ET
NEW YORK--(BUSINESS WIRE)--Jan. 26, 2006--Universal Express Inc. (OTCBB: USXP - News)
"Universal Express through its subsidiary Luggage Express offered to show how it can cover the security fee that airlines are balking at paying to the TSA (see articles below.) In exchange for the payment and security peace of mind, Luggage Express is asking that the movement of luggage be separated from the passenger. We can fund this security fee payment through the revenues gained from sales of shipping luggage," said Richard Altomare, CEO and Chairman of Universal Express, Inc.
"Curiously, this separation will have other benefits as indicated below. These benefits are expanded upon in our position paper entitled 'More Safety, Less Hassle for American Travelers, a Private Sector Solution. (http://www.usxp.com/securitywp.pdf) We're prepared to initiate dialogue with interested parties," concluded Richard Altomare.
Decline in passenger baggage reduces the prospect of infiltration of terrorist
Reduce demand for baggage screening
Reduction of TSA security screening costs
Faster and enhanced security check-in
Refocusing of screening personal and equipment to cargo screening
Airline revenue enhancements because of handling less baggage and faster plane turn around.
Related articles:
Chron.com article: http://www.chron.com/disp/story.mpl/chronicle/3602447.html
Bloomberg article: http://www.redorbit.com/news/technology/365301/southwest_fighting_ security_fees/index.html?source=r_technology (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Universal Express, Inc.
Investor Relations:
Mark Falk, 631-588-1644
publicrelations@usxp.com
--------------------------------------------------------------------------------
http://biz.yahoo.com/bw/060126/20060126005650.html?.v=1
Art, did you get my message??
tia...
Eagle1,
rtp, Look at this Pal..LOL... DTC Spin exposed by BOBO...}}} Be sure and tell your BOSS...LOL...
Yes,the king of NSS Exposure....Bob O'Brien (BOBO) has spoken ..
Bob O'Brien - The Spin Machine On Overdrive
« Thread Started on Today at 8:43pm »
--------------------------------------------------------------------------------
The Spin Machine On Overdrive - The DTCC Spins the NASAA Forum Like a Top, and Bobo Asks "Why?"
Location: BlogsBob O'Brien's Sanity Check Blog
Posted by: bobo 1/24/2006 12:43 PM
Apparently Carol Remond’s piece of creative fiction for DJ didn’t get any traction, so the piece has been repeated with a few minor alterations and been put out by the DTCC. It is equally incorrect and misleading, and not surprisingly contains many of the same obvious inaccuracies, along with some new fish tales.
I already debunked Carol’s novella, so I won’t belabor the point too much, but will rather take chunks and do short debunkings for those that haven’t seen my previous work.
First, let's look at the obvious - The DTCC is paying for "publications" to assure investors that "regulators" think Reg SHO is working. Let's put aside that the term "working" isn't really defined, and is more of a feel good term. The real question centers around the DTCC's releasing this PR puff piece - why, one could ask? Why do they care, given that they are taking the position that there is no naked short selling liability at the NSCC or DTCC? I mean, it could be that someone at the DTCC just figured that it would be good for God and Country to clear things up, carefully parsing regulator statements to kluge together a semblance of concurrence from the regulators that Reg SHO is "working." But doesn't that strike one as odd? Anyhow, here's the meat of the piece with some of my comments...
“Regulators Say Reg SHO is Working
Business Wire - January 24, 2006 14:02
NEW YORK, Jan 24, 2006 (BUSINESS WIRE) -- Despite extensive examinations by the SEC and the markets, there has been little or no evidence of extensive "naked short selling" to date, according to comments made at a recent forum held by the North American Securities Administrators Association (NASAA).”
Huh. How about the FOIA requests showing hundreds of millions, and on some days billions of FTDs? They are viewable in the FOIA Request section of the COMPLAINT RESOURCES section of this site. That would be trades where investors paid their real dollars, the trade was booked, but no shares were ever delivered. Or how about Dr. Byrne’s on-record saga of failing to receive hundreds of thousands of shares of OSTK for months? Or even Craig Cunningham’s recent and ongoing failure to receive shares he held in a cash account – shares off limits for lending, and for which he has still not received one share? I guess all that escaped the filter…
“The forum was designed to examine how well Reg SHO, a regulation designed to modernize rules on short selling, had performed.
James Brigagliano, assistant director of market regulation at the SEC, said, "While there may be instances of abusive short selling, 99% of all trades in dollar value settle on time without incident."
Which is either $1.2 billion, or $20 billion per day that don’t settle on time, depending upon which numbers you use. Concentrated in mostly a few companies on the Reg SHO list. Again, for which real dollars are paid by investors every day, and for which no product is delivered. I wonder why all the fancy dancing from Brigagliano – why doesn’t he just tell us the dollar amount per day? Or why doesn’t he tell us the number of FTD’s per day, and total? Why all the slippery rhetoric? And why is a 1% failure rate in these days of Six Sigma fault tolerance acceptable, much less a success? As discussed before, what if 1% of the population of a city was murdered every day – would that be good? Or what if you failed to deliver 1% of the computers you took money for on EBAY every day – would you be arrested? What if 1% of the blood supply had HIV slip into it, PER DAY?
This is a pretty standard technique we see day in and day out in this discussion, where the regulators and the DTCC try to make it seem that this is a small problem - by avoiding the obvious: this is a problem which is not spread evenly across many thousands of stocks - it is highly concentrated in a handful, thus is hugely destructive to the few that are the recipients of that $1.2 billion of fails per day. It isn't all companies, but rather just a few, who have the lion's share of these fraudlent trades. We could speak more accurately to this, but we don't have the data - the SEC keeps it secret from us. At 1% it can be made to seem that it is a small issue, however if that 1% of dollars is largely in 30 to 50 companies, and could well represent the majority of their trading for months at a time, it is a catastrophic issue for those companies. I wonder why the SEC avoids that simple and obvious truth?
“Brigagliano said the SEC conducted examination at 45 broker/dealers and asked the markets to look into the trading of securities in which large amounts of "fails to deliver" have been registered.”
Would that be the same Brigagliano that clearly indicated that any opinions he advanced at the forum were his own, and NOT those of the SEC, necessarily?
Huh. I wonder if REFCO was one of those investigated – and I wonder if they were subjected to the same level of scrutiny wherein the SEC failed to discover the mutual fund front-running that was ESTABLISHED POLICY at a number of the funds later charged with abuse, or the analyst abuse that remained undiscovered by the SEC for years, or the Specialist misconduct that they failed to catch? Is it just me, or does this mean less than nothing?
“Anand Ramtahl, vice president in the New York Stock Exchange's division of member regulation, told panelists that the exchange was conducting rigorous examinations of its members to make sure they are complying with Reg SHO.
NYSE officials noted later that when Reg SHO went into effect in January 2005, the exchange had 78 issues on the threshold list. (The threshold list contains the names of issues that have more then one-half of one percent of their shares failing to be delivered.) As of early January 2006, the number of NYSE issue on the list had dropped to 37 issues.”
I wonder how many dropped off the list because they went BK? Like Delta? Or were delisted? Or even better, how many simply had their FTDs transferred into the ex-clearing system to be hidden from view? I would ask, but nobody will tell. Odd, that.
“Cameron Funkhouser, NASD's senior vice president of market regulations, told the forum that NASD had found no evidence of rampant naked short selling. He also noted that although a number of companies have in the past alleged their shares have been manipulated through the listing of their stocks on foreign stock exchanges, he had found no evidence of such activity.
"We took (these allegations) very seriously," Funkhouser said. "We have seen not one instance of naked short selling or any abusive short activity" through foreign exchanges."
Bud Burrell can speak to this, given that prior to their trip to Berlin he sent Cameron’s boss, Mary Shapiro, a detailed letter explaining precisely how the exchanges had been used by manipulators to fraudulently justify their international arbitrage claims (a loophole) – and that it did NOT have anything to do with short selling through the exchanges. So Cameron’s statement is akin to the agency being told that the neighbor’s dog has bitten hundreds of people, and responding that he had investigated, and found that there were no incidences of the neighbor’s pet (their cat, of course) abusing (scratching) anyone (not mentioning that he never asked about the dog). It is simple dishonesty hiding behind a carefully crafted statement that is defensible as “technically correct” after the fact – in much the same manner that Clinton’s famous Cigar and BJ adventures with Lewinsky were hidden by his “technically correct” insistence that they didn’t constitute “sexual relations” – because of carefully parsed distinctions made in his mind…Is anyone fooled by this stuff?
“The Depository Trust & Clearing Corporation was not invited to attend the NASAA forum, but officials noted that 85% of all fails were resolved within 10 business days (i.e., before any buy-in would be allowed under current rules), and 90% resolved in 20 business days. DTCC does not regulate short selling, naked or otherwise. However, it compiles lists of fails each day and provides that data to the market regulators.”
A flat-out lie.
The DTCC was invited to attend, and declined, per Ralph Lambiase's comments at the beginning of the NASAA meeting. As to their numbers, they are saying that 85% of the unknown numbers of FTDs were “resolved” within TWO WEEKS, and another 5% took a FULL MONTH. The remaining 10% went on longer. Of course, in addition to the first lie, no clarification for the word “resolved” is offered. Is “resolved” where the Stock Borrow Program lends the shares to the NSCC, and the failed seller still hasn’t delivered, but it is “resolved” because the buyer got a share from the Borrow Program? Or is “resolved” when the trade is moved ex-clearing so that delivery is never tracked from that point on? Or is it “resolved” when it is “bed and breakfasted” at a compliant broker just in time to avoid scrutiny from Reg SHO?
Dave Patch of InvestigatetheSEC points out that "wash sales" can easily be used to game these statistics: 1.) Execute a Trade that results in a fail, cover that trade with yet another FTD. The initial FTD is closed and a new one opened. The aggregate FTD does not change, the clock is just restarted.
One could easily ask, where are the regulators on those 10% that are failed for more than a month? There is NO LEGAL justification on these FTD's (Dave's emphasis).
Now, back to "resolved" - note that English is simple to use. Words have specific meanings. Take “delivered” for example. Delivered means the product was delivered. “Resolved” doesn’t mean delivered. It means that a resolution was achieved – we don’t know what that resolution is, but if it was “delivered” I’ll bet we would have been treated to that word.
We weren’t. Wonder why?
So we have mis-statements, half truths, incomplete descriptions, and flat-out lies.
And these are our regulators, who are keeping the data secret, and who are saying “trust us.”
And note that none of the foremost experts in the field, who commented on the problem for hours, are cited in the release - it is as though the only words spoken were the official position statements by the SEC, NYSE and NASD, along with a post hoc slice of heaven from the DTCC. So why is all this spinning going on, with hours of testimony ignored (available here in the Library section under NASAA Transcript) in favor of highly misleading propaganda?
So here we have the DTCC lobbying to convince one and all that the regulators believe that SHO is working. Wonder why that is? Why do they care enough to issue forth press releases/publications citing comments from a meeting that occured in NOVEMBER?
Can this get any stranger?
http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/40/Default.aspx
Now ANS is moving from NYSE to AMEX.
If USXP does buy ANS and RM into the exchange that ANS is on, it will force a cover..imo
USXP is now on the OTCBB
ANS is now on NYSE, but is going to AMEX Wednesday
Again, if USXP buys ANS and RM's into ANS on AMEX, the naked short cannot be transfered to that exchange and will have to be covered in the open market...IMO.
Masta, good point, if they PR a done deal with ANS, this could force an open market cover before they MOVE to the new exchange
AirNet says gets approval for AMEX listing
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh20564_2006-01-20_22-19-59_wen....
AirNet Systems Moves to Amex From NYSE
Friday January 20, 5:42 pm ET
http://biz.yahoo.com/ap/060120/airnet_systems_stock_exchange.html?.v
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Be sure to read Dr D's post ;)
http://usxp.proboards79.com/index.cgi
Eagle1,