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NOTE:This may be the most important part of SHO for us. I believe stock must be on list for 13 days before broker is obligated to take corrective action. No time to search for it now but I seem to have read, in rules only yesterday.
Depends: on who's doing the shorting ; . J6p cannot. Under certain conditions MM's and brokers can. I do not know those conditions, but they are spelled out... have seen discussed somewhere and rule is not yes/no ; but, yes/and yes, if you (broker) think that shares are available bla, bla...
Disclaimer: my posts on rules/SHO subject may contain discripencies as am absorbing details myself, but objective is to enlighten discussions untill those who desire, feel comfortable using/ignoring this new tool (SHO list).
Well, Ken... I'm still unclear on all the remifications of new rule/s and these threshold watch lists (SHO). I think there is a list for the NYSE, the NASDAQ, and OTC. What it amounts to is an attempt to curb naked short selling (selling shares that one does not actually borrow).
At present we, the J6P's do not know very much about which stocks have lot of potential naked shorting. With a published list, updated regularly, the playing field could be leveled, somewhat.
Then, say you discovered your favorite stock made the list ; a red flag raised (so to speak) that a lot of buying will need to occur to eradicate this imbalance, thus potentially driving up its price (at least temporarily) seeing your stock on the list might thus allow you to buy, taking advantage of said imbalance.
Also, mm's and brokers will (unless they can circumvent) be less inclined to practice naked shorting (thus preventing certain stocks from "falling out of bed" in the first place.
Too, you do know, n'est pas, that most trading on big boards is "program trading" (where a certain event triggers automatic, programmed buy/sell orders.. usually baskets of stocks). So, if these program traders can take advantage of SHO lists, certain stocks (on them) may become more volatil.
Hope this helps.
SHO list. One thing about first OTC list: so many stocks that seem of a suspicious nature are strangly missing from said list. Wonder why? Held off on purpose (just ignoring new rules), exempt, stuff going on in Germany escapes this
drag-net. We shall discover, as time passes.
Of a different twist, the rule/s passed about a year ago to brake naked shorting seems (to me, anyway) to only have served to deminish "flair-up" opportunities, in the sub-penny area. I mean, this time last year we were having a ball almost every day as one stock or another caught fire (3/4/5 baggers). As the song says, "Where have all the flowers gone..."
Agreed.
ljk. In a nut shell: new rules designed to protect against naked short selling, require placing certain stocks on lists; NYSE list, Nasdaq list, otc list, etc.
huffandpuff. garbage post. jmo. Shorting has its place. but naked shorting that can decimate a small company. Never !!
Do not know. just that by regulation, some are required to report like otc, I suppose.
In edit, Genesis Electronics, Inc. I think is private co.
Some pinks are exempt "reporting" pinks are not exempt.
rwln. Reality Wireless Networks. You can find info if you plug in symbol at yahoo financial. Their big thing is pending merger witrh Genesis, which recently got a substancial contract award.
Ken. while your waiting for response: in a nut shell, stocks on list are ones where hard to borrow for shorting, as I understand it. Broker may have to close shorters stake, thus a scramble to cover. price could shoot up. Hedgers may build baskets of these to trap shorters making stock rise even more.
He, he. hope it works, especially on these penny stocks where naked short selling is a real problem.
Anyone like/dislike ADTN ; why such drop? eom.
Ameritrade. and my bid was 0.0001 that is minimun they allow. But confirmation said bot @ 0.00009 don't intend to call and complain. lol
FWIW. just bot ITDJ for: 0.00009 ; was to easy (quick) to suit me (like it's being dumped).
blasher. I like this move. expect a winner from it. mkt is oversold. big rally still to come (delayed by tsunami). I like wireless (including rfid), medicals, and special situations. Just reading about the new HPON tel. (the blade) makes me want to rush out and purchase it; and I've never owned a cell phone. gl
Sorry, thought was news from today.eom
cwalken. seih. I agree (holding some) news so good that wondering if getting ready to spring an S-8 or R/S on us.lol.
ljk. There was news today (Panacos Pharma. gets fast track)which someone could have known about after hours yesterday.
afrd -> gmsv
Doubloon. I'll have you know that France is my favorite little country in the whole wide world. There! Funny joke anyways.
blasher. reverse merger.. do not believe your definition is complete. reverse merger is when company A buys company B then merges company A into B (which is the oposite of what usualluy occurs which is: A buys B and merges B into A).
Hey, Dr. Worm. Don't go yet.. lol. Everyone should get their two cents' worth on this one. HR. I'm tempted by present situation (and I know flota is right).
But have noticed that almost all drops below bollies starts a rally. If we look back to about 20 Aug. hr fell below bollinger bands and tried to rally but didn't make it for almost a month later. So, why not here too.
Could fall to 35.xx, muddle around 'till encouraging sector news then rally back to about 41; also could rally immediately. Or.. nuf said.
cmkxequation. Who did the math here ? 78k$ for 350k shares is NOT 1.96 p/s but pennies over fifty cents per share.
ultee. It's looking, more and more, like bankruptsy will be this companies way out. Is one to keep on "watch" because if can survive would have good upside potential.
Ken. I hope for you that this event is just a "bump" in the road.
Ken. Only a short seller likes an s-8. The object of pointing out that post was the attempt (by formuls) to determine when shares floding the market from an s-8 have been absorbed into the market (we say, " the s-8 is over"). GL
Kgoodrich. Think you will be interested in this post."post s-8 co's" board #1605, post #2356 by zardiw.
sbs242000. You want a low floater? Check out majj.pk (float is 2000 shares fully diluted)( total shares out 4,000)Had reverse split 1:1500 Dec. 15, 204.
BT. see post 542. eom.
maji.pk -> majj.pk what happened? r/s? name change only? Can't even find any "headlines" for this on yahoo finincials.
etchay. Pay no attention to criticism. eom.
blasher. Could be, but I'm thinking more like 20/22 and forming a trading range there. And my reasoning is that because of drawn out peoplesoft thing, good t/a is lacking for past 15 or so months. Now, orcl has wiggle room to put company in best light. It has not participated in "big name" tech stock rally of past 3 years. So I consider it sort of like a "dow dog" of 2004. Blasher, I not pushing this stock. Do not own nor have immediate plans... just wanted to throw out a pick for 2005.. and only on your board!
Dr Worm. What's Dorfman's 2005 picks?
My favorite stock for 2005 is: ORCL (safety), though I do not expect it to be a three bagger.
Capt. sorry didn't ans yesterday (left right after posting). There are only two, now, that spyware doctor does not remove, but spybot does: wwwsearch.googlems and DSO exploit.
ljk. do all stocks trade in pre-mkt? bb, pinks, etc? tks & gl
chipped2003. at least two weeks old and a hoax according to news reports I've heard.
I, too, bot spidoc a few days ago. best I've had so far. But when I run spybot, the same three still come up. Even spy doc doesn'e seem to eliminate them.
worth watch; ttxi.ob symbol change to: gwrk.ob and also has new share value with 1/50 reverse split. aver pps last six mo = appx. 0.025 so if gwrk opens at substancially less than 1.25 it should adjust upwards towards 1.25