Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
oops he meant dormant!!!!
here's the funniest thing I read all day!!!
defender saying she he has been here all the time!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
thats like saying his bleeding hemmoroids are seasonal!!!!!
defenderhas shown us all his integrity and self control from the past so how can we all not just believe it???
and like you said in your post defender, you are the doormat of ift board!!!
good day COLBY
stink im back from a snowy drive from indy.
i am actually proud to let you know i sold my cykc already.
it was a nice 6 hr deal, but messing with these pinkies is risky business!!!!!!
have a great day all, going shopping in indy!!!!
my wife would agree with you, im weaning myself off.
in fact if all goes well hisc will be off and so thats one less!!
seriously, i am moving to more reputable firms to play in 06.
sag fundamentals are forming!!!
sela is climbing wow.
time for a spike!!!!!
i jumped in cykc at .018 this morning will hopefully sell by later today
emfp comment,
I still have not received my order from a few weeks back!!!
im going to bail on her, i will lose 3 cents a share and like it!!
looks like ifue is getting some peeks too on investors hub
should i put a stop on bmd, i am happy here, but it looks poised to climb
I think i bought sela at 1.38 to 1.41
stink , have you no comment on hisc?
oh pro, i see a lice infestation tried to latch on to you yesterday.
way to douse the louse!!!!
where is there 12 inches of snow myfellow ifue alumni?
me knows who napocor is!!!!
buy buy buy
stink any previous knowledge on stocks that go from pink to bb
good tidings my friend!!!!!!!!
stink did you look at hisc sb2 filing at all. placement at .50.this actsoft purchase will pay loads by end 2006
Im glad i waited and picked up a little here.
is there a quiet period for hisc?
stink serious question. have 83k to play with, i want to break it into 2 to 4 sag plays. give me a sag rating!!
colby
ps sela continues to creep up, sweet
i only got 2k more because the funds were tight and i was unwilling to unload my hisc.
i am watching this thing bounce like the cardinals last fall!!!!
sela continues to gain ground!!!!!
lets see if this helps me a little, since I couldnt part with my baby
http://biz.yahoo.com/iw/051206/0103140.html
Advice, does it really not even matter?
two weeks ago,i sent for certs from pershing and paid the ten bucks.
once i got confirmation they were being sent by a rep, i then transfered the shares along with a large holding to another company.
i get a call today saying i am sorry, but on any acct that is being transfered we do not send certs.
i told them i did that 2 weeks before initiating the transfer.
i got the old shaft. not to mention the ten dollar charge.
so i told the rep sit n spin.
i called the lady back and told her to give me certs from a sep which i hold from pershing only 5000 shares remain.
she told me i could not get certs because trhat would be a early withdraw.
after rotflmao and giving it to her, she told me she would send me a fax to fill out.
lo and behold its an early withdraw form, wtf gives here.
is this becoming rocket physics or am i a millionaire with no fuking sense!!!!!!!!!!!!!!!!!!!!!!!!!!!!
should i even waste a nother minute with these ramrods!!!!
still waiting for my order, its going on to thethird week!!!
man am i getting killed on wall st today.
first sucessful face transplant took place yesterday.
can anyone substantiate if in fact mario was the recipient of that face transplant.
I'm just trying to imagine who he would look like, probably bought bill clintons face cuz its always for sale!
thats why short term goals always win out for me vs. long plays. but like you said, ifue and hisc have me bythe gonads!!!!
stink why do i feel married to hisc.
im still green , but with all that i thought was going down, the stock is moving due south.
my dd is making me question myself, or stupidity for not selling at 10 cents!!!
im an ass!!!
sorry ive been busy , the wife and i are not doing well since she got a call from ameritrade saying i transfered 150k out of one of her accts into mine.
i was an error, but even amtrade is having a hard time making her happy!!!!!
still holding my sela position since 1.43.
stink i like our mascot.
gooney goo goo!!!!
Wednesday, November 30, 2005
The NASAA Conference -
to the proceedings today, moderated by Ralph Lambiaste, which sought to discuss and probe the naked short selling problem in the markets. Here's my take:
First, bravo to Ralph for introducing a sense of humor to the event, and for asking the tough questions. Here are my takeaways:
1) All the regulators all say that they are aggressively investigating, pursuing, monitoring and regulating, and that they are enforcing the rules. Richard Shapiro summed this up best: "Where is the enforcement?" He noted that we hear all the rhetoric from these guys, but the important data is kept secret, and there is no evidence that any of them are doing anything. One of the other panelists noted "there is no such thing as an innocent fail" - and I agree. There isn't. And all of these guys know it.
2) My take on this was echoed by all of the academics: We need to know what the fails are in order to trust the system. We need transparency, and the reason that the DTCC provides to us for not providing transparency is that they have passed a rule against it. The fails to deliver problem is of unknown size, and the consensus was that investors deserve to know how large it is, by company, and in the aggregate for the market.
3) Voting rights are destroyed by FTDs, and the process by which shareholders have lost their "one share, one vote" rights is a disgrace.
4) The agreement was that the reason that the DTCC and the SEC don't tell anyone what the size of the FTD problem is is because there would be a collapse in faith in the markets.
5) The SEC's position was that they welcomed comments about SHO, and would carefully consider any during their next review. Presumably they would carefully review those comments in the same way that they did in 2004, and then disregard them, as they did the first time around. This was talking head bureaucratese of the first order, IMO, and nobody was fooled.
6) A legitimately shorted share, borrowed and then delivered to the new buyer, can then be relent to another short seller by the new buyer's broker - there is no limit. Contrary to all the rhetoric from my many critics, that take was verified as correct.
7) The SEC's Brigagliano said that the grandfathered fails were roughly 4% of the total market - in terms of number of companies where grandfathering was done. Nobody asked the obvious question - what was the total dollars that represented, for which no deliveries had been made, or ever would. If 4% of the many trillions per year, we have a colossal, centi-billion dollar problem.
8) The panel seems to get it. They were clear that the lack of transparency was the largest problem, and that secrecy benefited nobody but the manipulators. The SEC made hollow-sounding assurances of regulatory enforcement, which were handily dealt with by Shapiro's cutting statements, and Lambiase's simple, "I was under the impression that there had only been 3 over the last 10 years." No rebuttal was articulated.
9) The same, tired, "grandfathering doesn't provide amnesty from enforcement actions" dross we have heard for a year now from the SEC - nobody said it did, Jimbo. What we've been saying is that it does give a vacation from having to cover those fraudulently transacted, non-delivered trades, and allows the short sellers to keep the profits from driving companies into the dirt - that was grudgingly conceded by the regulators. After much dancing around, they admitted as much. That's why you don't see the DTCC or the SEC doing these in open forums - it's hard to argue against the obvious truth when it is presented by knowledgeable folks who you can't snow.
10) Ralph was flabbergasted over the voting rights abuse - his statement was, "we've fought wars to protect the right to vote". Correct. We have. But we can't get Wall Street to stop abusing the American public. Ironic, no?
11) There was much discussion over the tax implications of leaving short positions open in perpetuity, which ignores that if the shorting occurred from offshore accounts any profits are tax exempt - offshore investors don't pay capital gains tax.
12) Equivalently, there was discussion about the foreign exchange listings - in which the regulators dutifully addressed their own straw man contention that naked short selling was being conducted there, and happily ignored that nobody was making that claim - it's an arbitrage game, stupid.
13.) Some discussion about ex-clearing shenanigans was discussed, but unfortunately the one big one - wherein brokers not only lend each other shares, but enter IOUs on their back office ledgers instead of demanding delivery, or buying in the fail - wasn't. That is no surprise.
Here are my takeaways: Everything you've read here and on NCANS is solidly based in fact - it was all confirmed by the panel. The system doesn't punish those who use naked short selling as a manipulative practice, an endless supply of legitimate shorts can be created by the system via re-loaning stock from margin accounts, naked shorts are a huge problem concentrated in a small number of stocks, there is no plausible reason that the FTD info shouldn't be public, the SEC and NASD and NYSE, for all their bluster, have no real impact on the problem (there was, as always, much discussion of "studying the matter further" and being "receptive to input", with the best line going to the guy who pointed out that they are taking a "Giulliani approach of ticketing small infractions"), there are no meaningful penalties for FTD'ing like crazy, there are huge inequities in the reporting system which favor short sellers and market manipulators, and everyone of any substance in the business knows this. All of it. And is doing nothing.
Surprised that the NASAA panel confirmed virtually every statement made here, that has been dismissed as silliness by the quisling media and the hedge fund apologists?
You shouldn't be.
I agree with Patrick Byrne, who said that when we look back at this we are going to say, "all the evidence was there, all along, and a few guys spelled it out in impossible to misunderstand language, and the regulators, and the government, stood by and did nothing, feigning innocence and ignorance."
The SEC guy predictably tried to underscore what a small problem this is, purposefully ignoring the observation that the FTDs were concentrated in a very small number of companies. Just pretended he didn't hear it. Also sort of blah blah blah'd over the direct question Ralph framed over how companies could exist on the Reg SHO list for a year if any of the rules were being enforced - he committed to being willing to study it more, which is SEC-speak for do nothing.
Ralph Lambiase deserves tremendous credit for being willing to tackle this. I have no doubt that he will be personally attacked sooner rather than later, and the panel's statements distorted, mocked, or ignored. That's how this system protects itself.
The positive is that now the problem has been validated by as august a body of academics and specialists as one could desire - it isn't all in my head, and yes, you should be worried.
The solutions for what should be done were best framed by Professor Finnerty: Tell us the size of the problem, and force settlement in a reasonable time. This isn't rocket science.
Settle the trades. And don't lie to us.
Bravo panel, and bravo Ralph Lambiase, my new favorite for regulator/lawmaker of the decade. In the 80's it was a tie between Giullani and Ed Gray, in the 90's Giullani had it locked, and for the millennium, we have Ralph Lambiase - Spitzer is all show, no substance, and pretends to be ignorant of what was shown today to be a pervasive fraudulent practice embraced by Wall Street. For my money, Lambiase had it cold.
68.38.213.128
stink i am waivering on hisc , boy are they testing me here.
with 2 million shares , i cant see us go down much more below 200 ma but here i am waiting.
oh one other tidbit, i am having lunch with vp of cubs ticket sales b. polhironis in dec.
usually i will get a set for cubs vs. whomever.
they have been the seats right next to the visitor dugout.
in fact the last game i went to we had a blast chatting with the reds players.
so im gonna put you on the rader here.
if i get them, i will put you on top of my list and ask for the john rooneys team tickets!!!!hehehe
you know after reading all these recent posts, i have come up with a theorum regarding pino.
toni(she/he) and mario, would have a divorce decree in AZ.
Any ideas on how to find her/his maiden name?
A guy like this has to have major baggage on his ex wifes shoulders.
hes probably headed to london to join the culture club and get a major face change.how the guy sleeps at night is beyond me.
oh if only I could chat with toni. I just love hearing ex spouses stories about their married lives!!!
a real knee jerker.
Im sure right now that the fire is coming into his live and consuming the foe from every side!!!! burn baby burn!!!!
keep the positive stuff flowing people
I have sent for certs from pershing and wash mutual.
no arguments they both charged me 10 bucks.
I am currently doing account transfers from pershing to ameritrade, so I thought I would get the certs first!!!
I would just like to see what would happen if I get a cert of some kind from pershing or wm and then request again from amtrade for my own curiousity
May everyone have a happy thanksgiving.'
A TIME OF PRAYER FASTING AND SUPPLICATION IN REMEMBERING THE GREAT THINGS THAT HAVE HAPPENED IN THE LAST YR.
colby
i got in emfp today, finally.
stink do you what the guts are as to why we dropped the law suit.
Are we looking at a big fat juicy long term contract or are we conserving cash . any comments from where you sit!!!
if you remember I was contemplating selling and buying a lg. stake in emfp.
I chose to hold and bought 2200 more shares at 5 and change.
Ive seen this before, and once we break through the highs and the fear goes higher, this one could be off to the races!!!!!!
you are on my Christmas mailing list too!!!!!
sva heading due north!!!!!!!!!!!
I think we will see a new high with sva this week!
its gonna be a pretty exciting holiday season here!!!!
stink you are santa claus.
my last wish is to see a surge in ifue!!!!
im in emfp at 8o cents and 81 cents.