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in ENVA
NEOP close to break
AIDO news, in
SEC filings site, from the BOT IBOX:
http://knobias.10kwizard.com/main.php
RNKE: one word. saturation
i've traded RNKE many times, mostly on news. made money on this in January, big time. then the news releases started coming, day after day, obviously in coordination with these SEC filings. makes you think. and, naturally, with each PR, the move generated by the PR was more sluggish, with less follow through. more shares are availalbe almost every week. this company is not doing it's investors any favors.
if it moves, and the TA looks good, you can bet i'll trade it. but that's it.
jmo, but be careful here.
my 2 cents.
OT Kobe, he's baaaacck!
tough day, be selective
i'm pretty sure that the actual mm order at a particular price level is arbitrary. you'll need to watch over time, looking for the mm that is most interested in buying or selling, and is consistantly jumping to the inside ask or bid.
if anyone knows differently, please feel free to correct me on this...
mms filling you ABOVE the ask?
mms will sometimes fill you a penny, or couple of pennies (or more) above the ask, hoping that the process/aggravation of complaining and getting a correction (i.e. contacting a broker, getting the broker to talk to the mm, getting the mm to actually change your entry to reflect the actual ask at the time of the trade) will bludgeon you into submission.
they should be filling you AT THE ASK for mkt orders. period.
NOT ABOVE.
don't let them get away with this crap. always complain. this is the only way traders can even come close to keeping mms in check.
mms are counting on the fact that you won't bother. don't submit. always send an email or call the broker. the brokage is paying the mm to manage an accurate order flow. you are paying the brokerage for accurate fills. make sure the brokerage follows through, and provides you with a resolution.
count on it...
bush will go to any lengths to buy reelection
the question is, if the selling gets to be overwhelming, will the PPT be able to stop the bleeding?
good job on taking the stop on that...
don't make small losses into big losses.
Some of my rules, on a quiet evening:
1) Always know WHY you are entering a trade. Always know why you are exiting a trade. Every single trade.
2) Don't chase. Enter the stock at a level that makes technical sense, knowing beforehand what a technical failure in the stock looks like.
3) Always, always, always, use a stoploss, trailing or otherwise. Never hold a loser. This is dead money. However, also, never use a “physical” stoploss, only a mental stoploss. If market makers want shares, and they can see yours (with Level III), they will come get them. If you can’t trust a stock (because you’ve never traded it before, or because the technical reason for entry is comparatively weak) or watch the stock, and you have to leave your live charts, sell it.
4) Use Chatrooms and Stockboards as WATCH LIST fodder. Use these posts to build your watch lists only. Do not automatically jump in just because you see your favorite guru posting his entry. You are chasing. And, you are not learning if you do this.
5) Learn technical analysis. At a minimum: Learn how to spot resistance and support levels, and learn how to draw trendlines. Also, work on spotting common patterns, cup and handle, head and shoulders, ascending triangles, box formations, Fibonacci levels, etc. These are your tools; a craftsman has to be able to use their tools well.
6) Trust the chart. Have patience. The chart doesn't lie. It can’t. (But also know what your stoploss is).
7) Trade your day in a completely professional manner. Make it serious business. Don't allow sloppiness to enter into your mindset. The marketplace is completely unforgiving, and the sloppy get slaughtered.
8) Keep emotions out of your trades as much as you can. The more closely you can emulate machine-like executions, the more money you will make. Emotions will cost you cash.
9) Never, never, never chase a stock. Up or down. In or out. If you miss your entry, let it go. Another bus is coming soon. If you miss your exit, remain calm. Identify the next support level, and look for a bounce off that. If no bounce comes, exit, calmly, at that support level. Never chase stocks. If you chase, you are trading with emotion. That is a deadly combination.
10) Sell at least half your shares into strength as price approaches a technical area. Lock in profit. However, don’t close a position just because you have made a certain amount of money; sell for technical reasons. You’ll leave less on the table.
11) Be very selective, especially during low volume periods. Practice sitting on your hands.
12) Don't pull money out of a winner, or a fledging position, to chase another stock that might be moving.
13) In general, sell into strength. You can also buy into weakness, but only do so if the overall trend for the stock is up.
14) Especially for OTC, have a target exit in mind, at a point of resistance. Watch closely as the stock approaches. OTC stocks can plummet fast; the use of a simple trendline violation won't always work. Use Level II as a tool for entering and exiting a position only. Don’t watch Level II every single moment (unless you are scalping). Market makers will drive you batty.
15) Never try to "beat" a stock. If you get beat by a stock, move on to another issue, unless there is a solid technical reason for re-entry.
16) Paper trade for at least a few months. No one wants to do this. No me, not anyone. Everybody wants to jump in right after they're flush with their first success. And, bonus, guess what? Paper trading won’t teach you everything you’ll need to know. It’s not even that close to the real deal! But paper trading will help immensely. It’ll save you money.
17) Keep a trading journal. Use it. Always include commissions in the cost of doing business. Note your mistakes. Learn from your mistakes. The market punishes mistakes. You’ll want to learn as quickly as you can.
18) Build redundancy into your trading rig. Multiple connectivity points. Multiple access points to your broker. Multiple computers (in fact, multiples of hardware across the board if you can get it), multiple data sources. Stocks can drop very fast. You don't ever want to be blinded by equipment failure. You can lose money. Use the very best trading rig you can get your hands on. Then duplicate it.
19) Know your datafeed/charting software intimately.
20) If you play news, make sure your news server is fast, and make sure your fills are fast. Otherwise, don’t play news.
21) Keep learning. Never stop.
22) Stay humble. The market will eat your ego for breakfast.
23) Eat right, exorcise. Take breaks during the trading session. Learn to meditate. Then, meditate. This is a high stress business, especially while one is learning.
24) There is a human being behind every post; be nice to people in Chatrooms and Stockboards. They are helping you.
25) If you start to make a consistent profit, don’t forget to pay yourself.
and, finally, The Trend Truly Is Your Friend.
well, with $50 per barrell oil coming soon, and energy companies producing record profits, it's not surprising!
look to pay $3 at the pump soon enough, imo.
MyTrac, i believe...altho i don't have an account, i have friends who do...
caution, however, lots of complaints about MyTrac these days...
also, Etrade might, i know that i hear that you can automate entries with Etrade, in other words set up a buy at a certain price ahead of time (bit dangerous, tho imo)....
pretty cool, but i don't have an Etrade account either...
wish payton could play defense, he gets beat so easily...
man, he's a shadow of his former self...
in some CGUD
SWYC nice gap
a few of mine:
1) Always know WHY you are entering a trade. Always know why you are exiting a trade. Every single trade.
2) Don't chase. Enter the stock at a level that makes technical sense, knowing beforehand what a technical failure in the stock looks like.
3) Always, always, always, use a stoploss, trailing or otherwise. Never hold a loser. This is dead money. However, also, never use a “physical” stoploss, only a mental stoploss. If market makers want shares, and they can see yours (with Level III), they will come get them. If you can’t trust a stock (because you’ve never traded it before, or because the technical reason for entry is comparatively weak) or watch the stock, and you have to leave your live charts, sell it.
4) Use Chatrooms and Stockboards as WATCH LIST fodder. Use these posts to build your watch lists only. Do not automatically jump in just because you see your favorite guru posting his entry. You are chasing. And, you are not learning if you do this.
5) Learn technical analysis. At a minimum: Learn how to spot resistance and support levels, and learn how to draw trendlines. Also, work on spotting common patterns, cup and handle, head and shoulders, ascending triangles, box formations, Fibonacci levels, etc. These are your tools; a craftsman has to be able to use their tools well.
6) Trust the chart. Have patience. The chart doesn't lie. It can’t. (But also know what your stoploss is).
7) Trade your day in a completely professional manner. Make it serious business. Don't allow sloppiness to enter into your mindset. The marketplace is completely unforgiving, and the sloppy get slaughtered.
8) Keep emotions out of your trades as much as you can. The more closely you can emulate machine-like executions, the more money you will make. Emotions will cost you cash.
9) Never, never, never chase a stock. Up or down. In or out. If you miss your entry, let it go. Another bus is coming soon. If you miss your exit, remain calm. Identify the next support level, and look for a bounce off that. If no bounce comes, exit, calmly, at that support level. Never chase stocks. If you chase, you are trading with emotion. That is a deadly combination.
10) Sell at least half your shares into strength as price approaches a technical area. Lock in profit. However, don’t close a position just because you have made a certain amount of money; sell for technical reasons. You’ll leave less on the table.
11) Be very selective, especially during low volume periods. Practice sitting on your hands.
12) Don't pull money out of a winner, or a fledging position, to chase another stock that might be moving.
13) In general, sell into strength, but into weakness (but only if the overall trend is up).
14) Especially for OTC, have a target exit in mind, at a point of resistance. Watch closely as the stock approaches. OTC stocks can plummet fast; the use of a simple trendline violation won't always work. Use Level II as a tool for entering and exiting a position only. Don’t watch Level II every single moment (unless you are scalping). Market makers will drive you batty.
15) Never try to "beat" a stock. If you get beat by a stock, move on to another issue, unless there is a solid technical reason for re-entry.
16) Paper trade for at least a few months. No one wants to do this. No me, not anyone. Everybody wants to jump in right after they're flush with their first success. And, bonus, guess what? Paper trading won’t teach you everything you’ll need to know. It’s not even that close to the real deal! But paper trading will help immensely. It’ll save you money.
17) Keep a trading journal. Use it. Always include commissions in the cost of doing business. Note your mistakes. Learn from your mistakes. The market punishes mistakes. You’ll want to learn as quickly as you can.
18) Build redundancy into your trading rig. Multiple connectivity points. Multiple access points to your broker. Multiple computers (in fact, multiples of hardware across the board if you can get it), multiple data sources. Stocks can drop very fast. You don't ever want to be blinded by equipment failure. You can lose money. Use the very best trading rig you can get your hands on. Then duplicate it.
19) Know your datafeed/charting software intimately.
20) If you play news, make sure your news server is fast, and make sure you fills are fast. Otherwise, don’t play news.
21) Keep learning. Never stop.
22) Stay humble. The market will eat your ego for breakfast.
23) Eat right, exorcise. Take breaks during the trading session. Learn to meditate. Then, meditate. This is a high stress business, especially while one is learning.
24) There is a human being behind every post; be nice to people in Chatrooms and Stockboards. They are helping you.
25) If you start to make a consistent profit, don’t forget to pay yourself.
and, finally, The Trend Truly Is Your Friend.
low volume equals high risk. plus, because the spread is usually ugly, it costs a lot just to take a position. still, high risk, high reward. if the chart is right, i might buy a small number of shares, but usually it's a swing trade...
fwiw....
at first blush, sounds good! basically a sneak attack
you'd have to keep your involement very quiet, tho
at first blush, sounds good! basically a sneak attack
you'd have to keep your involement very quiet, tho
what's encouraging is that kobe thinks he'll be back soon...and he's ready to play in plan...
"morning star" is a candle stick pattern...it's bullish.
Market Makers use Tradestation II to do their jobs:
NASDAQ Workstation II: http://www.nasdaqtrader.com/trader/tradingservices/productservices/productdescriptions/nwiidescripti...
"Cellar Boxing"
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the market makers that practice it. It is known as “CELLAR BOXING” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the CELLAR”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“CELLAR BOXING” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “CELLAR” level is that the lowest possible incremental gain above this CELLAR level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “CELLAR BOXING”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "CELLAR" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the CELLAR floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the CELLAR” it doesn’t have a whole lot of options to climb its way out of the CELLAR. One obvious option would be for it to reverse split its way out of the CELLAR but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the CELLAR but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the CELLAR, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “CELLAR BOXING” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "CELLAR BOXING" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.
see it fine :) thx L
.85 break
scanners i have used:
www.smallcapcenter.com
free through and through, small staff (i assume), which cannot seem to update their list of stocks very effectively. they still have many OTC stocks listed as Naz, the scan mixes up the different types of markets quite a bit...honestly, i don't quite trust it...canned, generic scans, not much flexibility...
price $0.00
www.stockcharts.com
free canned scans (i believe, Cap would know better), nice for EOD, very generic selectivity however. advanced scans can be created, but you need a subscription, and the programming language for writing scans is not all that easy to master, unless you are good with code...also, creates chart pages, but not in real time (i think).
price $19.95 per month, for Extra Charting
www.traderbot.com
per month charge, free short trial, site seems to go down quite a bit, and there is no way to single out OTC/BBs. very powerful, lots of diffent types of scans can be created, and the scanner is using real time data. updates automatically, but the refresh doesn't work correctly all the time. since they'e changed DNS servers (several weeks ago), the site does stay up more these days, but there are still outages. they also have no telephone support or service, strictly email.
price $39.95 per month
www.prophet.net
the free scan is not real time. a per month charge if you wish to have real time scanning. free short trial. scans are not as powerful as Traderbot's, but very effective, plus they are in real time, and the site creates real time chart pages on the fly, very nice for quickly scanning through the market day. also, they have a pattern recognition feature, which i have not tried. the site is slow on occasion for some reason, perhaps when they get too much traffic, i've only been using this scanner for a couple weeks, but it's my favorite thus far. another complaint is that, while they have phone support, it's not toll free.
price $24.95 per month, for real time Silver level
generally, the rule is you get what you pay for, although, i think that Traderbot is overpriced, fwiw
hope this helps
other scanners:
www.traderbot.com
per month charge, free short trial
www.prophet.net
free scan, but not real time
per month charge if you wish to have real time, free trial as well...
hope this helps
ANCC: next resistence i see on this is $3.01, this might continue...
i find this to be valuable info: OTC MMs have 90 seconds before they have to report a trade....
that means that mms can make it appear that a stock has stalled, that no shares are being exchanged for 90 seconds.
http://www.otcbb.com/aboutOTCBB/tradereprules.stm
OTC Market Makers shall, within 90 seconds after execution, transmit through ACT last sale reports of transactions in OTC Equity Securities executed during normal market hours. Transactions not reported within 90 seconds after execution shall be designated as late.
Non-Market Makers shall, within 90 seconds after execution, transmit through ACT or the ACT service desk (if qualified pursuant to Rule 7010(i)), or if ACT is unavailable due to system or transmission failure, by telephone to the Nasdaq Market Operations Department, last sale reports of transactions in OTC Equity Securities executed during normal market hours. Transactions not reported within 90 seconds after execution shall be designated as late.
y, often times these are fake asks, mms presenting a phoney wall of large numbers of shares. sometimes, the wall will effectively stop a run, if there is not enough momo. mms often work to protect each other if they know that one or more of the mms are in trouble (say, short a stock that moving up).
what you are contemplating is the use of a bit of a contrary indicator. i love watching those mms simply melt away, when i am right! seeing that happen really confirms that volume is pouring into the stock and the mms may have lost control.
still, sometimes the wall will not fall away.
one that i'm trying to do is to stay away from level II until it's time to exit or enter a stock, unless i'm only interested in scalping. that means i trust the chart. that means i use level II only as a way to refine my exit/entry.
mms are incrediblely good at faking the direction of a stock, imo. i have been shaken out many times by the diverse array of tricks and fakes mms throw at traders.
in the past trade commissions had been much higher then $20.00...
just butting in...something went wrong imo, you should call Ameritrade, and email Freetrade about this...
thing about PAYD is, like UALAQ, i believe ppl who use Freetrade can't trade that stock...
love the teaching posts! keep 'em coming, traders!
an example of how one trader thinks about time and sales information:
first Capt Nemo ( http://investorshub.com/boards/profile.asp?User=3198 ) posted EOD t&s from ABTG:
Ya think the last trade was earthlink Keith?
AMBIENT CORP (OTCBB:ABTG)
INTRADAY PRICES
Date Time High Low Close Volume
03/06/04 16:10:25 0.426 0.426 0.426 1,000,000
03/06/04 16:05:02 0.450 0.450 0.450 12,000
03/06/04 16:01:29 0.466 0.466 0.466 151,000
03/06/04 16:00:38 0.450 0.440 0.450 21,000
03/06/04 15:59:39 0.445 0.445 0.445 17,200
03/06/04 15:57:15 0.445 0.440 0.440 42,500
03/06/04 15:56:38 0.445 0.440 0.445 32,600
03/06/04 15:55:03 0.445 0.440 0.445 11,000
03/06/04 15:52:57 0.447 0.440 0.445 209,000
03/06/04 15:51:10 0.445 0.440 0.440 26,600
03/06/04 15:50:01 0.450 0.430 0.440 27,000
03/06/04 15:48:00 0.440 0.430 0.440 27,400
03/06/04 15:46:51 0.440 0.430 0.440 25,100
03/06/04 15:45:06 0.440 0.430 0.440 38,700
03/06/04 15:44:32 0.450 0.440 0.440 76,400
03/06/04 15:43:06 0.450 0.440 0.442 48,000
Then, Hacktheripper ( http://investorshub.com/boards/profile.asp?User=22656 ) analyzes the data:
I read it as a transfer of stock between MMs it will get sold off to keep the price down... look for the stock to churn above that price util unloaded... then they will bring the price back down to the mid 30's shaking out the weak hands who just bought and buy back at cheaper prices.. then take the stock back up again.....
Only in my opinion...
Thanks to these traders for allowing this presentation...
From Omnitrader: "Sparing"
"way to win this game is to use a service like freetrade or some other low cost service so jumping in and out of trades the phycological commision cost won't even have a chance to play in the back of your mind.
I like to call it sparing: i like 2 spar with stocks throw a few shares at em and see how they responed to it just like boxing so i can get a feel of what the market makers are doing. are they flash filling or they taking 4 ever to fill.
I can do this with freetrade because it doesnt cost but a measly 1.00 to find out the action is on a stock.
if and when I get the beat on it then I start wanting to buy more.
if i lose or wrong on the trade I take a small loss. I dont show my true intentions upfront.
visit his board at: http://www.investorshub.com/boards/board.asp?board_id=2059
nice post:
protect yourself from chasing stocks by using technical entries and exits. resist the emotional impulse. what is your reason for entering a trade? if you answer, because i want to scalp a quick buck, rethink your strategy. if you answer, because the stock has moved through resistance (which is now support), and there is frenetic buying in time and sales, and the stochs are at 66, and OBC is trending up, and, etc. etc. then buy the stock.
when buying at technical levels, you provide yourself with a technical failsafe, an exit strategy, namely a stop loss at a price that shows you were wrong about the stock, for example if the stock loses a new support level.
Recent Article on Short Selling: from VCWTrader
Keep in mind that the deadline for this action has recently been advanced to April 1st, 2004.
SEC Reported Ready to Crack Down on Naked Shorters /
September 25, 2003. (FinancialWire) The Securities and Exchange Commission will consider changes to short-selling rules this fall, looking to ease restrictions on short-sales of big companies while tightening them for small firms, reports the Dow Jones (NYSE: DJ) newswires.
"It's expected that the commission will consider short selling reforms in the next few months," SEC market regulation division director Annette Nazareth said in a telephone interview with Judith Burns, a reporter for Dow Jones.
If approved, said Burns, the SEC would lift restrictions on short-sales of the largest U.S. corporations on a trial basis while imposing more controls on short sales of stocks traded in the over-the-counter Bulletin Board. Burns said the SEC has received more than 2,700 letters on the subject, many of them from small companies that say they have been victimized by manipulative short selling.
Burns states that short-selling, which involves selling shares of borrowed stock, isn't illegal, but has been subject to SEC oversight since the 1930s. However, naked short selling, in which no settlements occur, is illegal.
Burns said SEC rules now allow short sales of exchange-listed stocks only when the stock price is rising. This "tick test" has come under scrutiny since U.S. markets began pricing stocks in decimals, rather than fractions. Critics of the short-sale rule say decimal trading has resulted in fast-moving price swings that make it hard to tell whether the last price was an uptick or downtick. However, none of these rules apply to the over-the-counter bulletin board marketplace, which was the subject of several resolutions advanced this past week at the annual SEC Small Business Forum by the CEO Council.
"A tick test makes very little sense" in today's world, Burns quoted Howard Kramer, a former SEC associate director, now a partner with the Washington law firm of Schiff, Hardin & Waite.
Burns said the SEC staff is expected to propose scrapping the tick test and replacing it with a bid test already in use in the Nasdaq Stock Market. That would allow short-selling if the last bid - an offer to buy a stock - is higher than the previous bid. Advocates say that would make the short-sale rule easier to apply and give short-sellers more flexibility.
In a more dramatic move,Burns said the SEC will consider an experiment that eliminates the bid and tick tests for short sales of the most actively traded stocks. After a trial period, the agency would decide whether such restrictions should be removed permanently for certain large-cap stocks.
However, Burns did not say whether the “most actively traded stocks†applies only to the large caps, since many OTCBB and pink sheet stocks trade more actively than those on the big boards.
She did sy that “new restrictions on short sales of smaller companies are also being contemplated in an attempt to curb ‘naked’ short sales,†the subject of a series in FinancialWire for the past ten months.
“Short sellers profit when stock prices decline because they can replace borrowed securities at a lower price. A naked short sale occurs when the short seller doesn't intend to borrow and deliver stock to settle the trade,†said Burns. She quoted Kramer as saying the practice "is a problem and should be regulated."
To combat such abuses, the SEC will look to increase borrowing requirements for some short sales and call for stronger enforcement, including late charges or other financial penalties for short sellers who fail to cover short positions by the settlement date, said the Dow Jones. "It will address problems that we have seen with naked short selling," said Nazareth, in what appears to be the first admission by an SEC regulator that naked short selling is occurring.
“Such changes would be welcome news for small companies who say the SEC hasn't done enough to combat manipulative short sales,†said Burns, in what may be an understatement.
Burns noted Wednesday’s story in FinancialWire regarding Universal Express Inc. (OTCBB: USXP), which operates private postal stores and offers luggage-delivery services, is so fed up it is urging shareholders to complain to Congress about short-selling abuses.
"We're going to declare war on the naked short sellers," Universal Express President and Chief Executive Richard Altomare told Dow Jones Newswires a day after he was quoted in FinancialWire on the same subject. “He said he isn't opposed to legitimate short sales, but believes naked short selling is a national scandal that is costing investors millions of dollars in annual losses,†said Burns.
“Altomare has seen the problem up close, as Universal Express stock skidded from more than $2 to just pennies a share in 1998. Altomare said the company was attacked by manipulators who used naked short sales to drive the stock into the ground.
“New York-based Universal Express fought back and won $526 million in judgments in two jury trials in Florida, including $275 million in punitive damages. It has yet to collect the funds,†concluded Burns.
There are 117 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 117, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion’s (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 104 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated “the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means.â€
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in “addressing†these concerns “by other means.â€
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders – a wrist-slap to perpetrators such as Paragon Capital Markets, which was “censured†and fined $35,000 after the NASD said it had “executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions.â€
The complete list of those 104 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
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A list of 119 potential companies that could have been naked shorted:
Enjoy!
December 15, 2003. (FinancialWire) The charges lodged against Andreas and Thomas Badian, of Rhino Advisers, Inc., for alleged manipulative naked short-selling of Sedona Corp. (OTCBB: SDNA), which at the time was listed on the NASDAQ, is having far-reaching implications for the shareholders of at least 60 other public companies, including Avanir Pharmaceuticals (AMEX: AVN), Hollywood Media Corp (NASDAQ: HOLL), and Viragen Inc (AMEX: VRA).
December 15, 2003. (FinancialWire) The charges lodged against Andreas and Thomas Badian, of Rhino Advisers, Inc., for alleged manipulative naked short-selling of Sedona Corp. (OTCBB: SDNA), which at the time was listed on the NASDAQ, is having far-reaching implications for the shareholders of at least 60 other public companies, including Avanir Pharmaceuticals (AMEX: AVN), Hollywood Media Corp (NASDAQ: HOLL), and Viragen Inc (AMEX: VRA). The 60 are among 76 companies, some of them no longer public, who were financed by AMRO International, one of the offshore funds used by the Rhino Advisors, and the same fund that was involved in the financing of Sedona Corp. Taped conversations in the hands of the U.S. Department of Justice indicate that there may have been a pattern to the "unbridled" and "mercilous" naked short selling the Badians demanded of their brokers. Other funds used by Rhino included Celest Trust and Austost, Markham, Roseworth. Rhino's offshore trust agents included Bachofen and Hacki, as well as Ultra Finanz of Zurich for AMRO, Batliner of Lichtenstein for Markham and Roseworth, Trevisa-Treuhand-Anstalt of Lichtenstein for Celeste. There are likely hundreds of these deals. The 60 public companies that were financed just via Bachofen & Haackl, or Amro, include: All American Food Group Inc (OTC: AAFGQ), Amanda Co Inc (OTC: AMNA), Antra Holdings (OTC: RECD), Aquis Communications Group Inc (OTCBB: AQUIS), Avanir Pharmaceuticals (AMEX: AVN), Bionutrics Inc (OTC: BNRX), Brilliant Digital Entertainment Inc (AMEX: BDE), Bravo! Foods International Corp. (OTCBB: BRVOE), Butler National Corp (NASDAQ: BUTL), Calypte Biomedical Corp (OTCBB: CYPT), Chemtrak Inc/DE (OTC: CMTR), Clicknsettle Com Inc (OTCBB: CLIK), Corporate Vision Inc (OTC: CVIA), Crown Laboratories Inc/DE (OTC: CLWB), Dental Medical Diagnostic Systems Inc (OTC: DMDS), Detour Media Group Inc (OTC: DTRM), Also, Digital Privacy Inc/DE (OTC: DGPV), Senior Services Inc (OTC: DISS), International Inc (OTC: DYNX), Endovasc Ltd Inc (OTCBB: EVSC), Corp/CA (OTCBB: ESYN), Focus Enhancements Inc (NASDAQ: FSCE), Frederick Brewing Co (OTC: FRBW), Greystone Digital Technology Inc (OTC: GSTN), Havana Republic Inc/FL (OTCBB: HVNR), Henley Healthcare Inc (OTC: HENL), Hollywood Media Corp (NASDAQ: HOLL), Ibiz Technology Corp (OTCBB: IBZT), Diagnostic Systems Inc/FL (OTCBB: IMDS), Imaging Technologies (OTCBB: IMTO), Integrated Surgical Systems Inc (OTCBB: RDOC), Also, Interferon Sciences Inc (OTC: IFSC), Interiors Inc (OTC: ITRNA), Laminaire Corp (OTC: THMZ), Medisys Technologies Inc (OTC: SCEP), Milestone Scientific Inc/NJ (AMEX: MS), Nevada Manhattan Group Inc (OTC: NVMH), Innovations Inc (OTCBB: NTGE), Systems Group (OTC: OSYM), Pacific Systems Control Technology Inc (OTCBB: PFSY), Professional Transportation Group Ltd Inc (OTC: TRUC), Rnethealth Inc (OTC: RNTT), Also, Sand Technology Inc (NASDAQ: SNDT), Sedona Corp (OTCBB: SDNA), Silverado Foods Inc (OTC: SVFO), Stockgroup Information Systems (OTCBB: SWEB) Surgilight Inc (OTC: SRGL), Tasty Fries Inc (OTCBB: TFRY), Tech Laboratories Inc (OTCBB: TCHL), Teltran International Group Ltd (OTC: TLTG), Titan Motorcycle Co of America Inc (OTC: TMOTQ), Trans Energy Inc (OTCBB: TSRG), Motorcycle Co (OTC: UMCC), Universal Communication Systems Inc (OTCBB: UCSY), Medical Systems Inc (OTC: UMSI), Vianet Technologies Inc (OTC: VNTK),Viragen Inc (AMEX: VRA), Webcatalyst Inc (OTC: WBCL), Worldwide Wireless Networks Inc (OTCBB: WWWNQ), and ZAP (OTCBB: ZAPZ). Earlier in the year, the U.S. Securities and Exchange Commission fined Rhino Advisors, Inc., $1 million for its representation of Amro International in the financing and manipulation of Sedona Corp. Amro, also known as AMRO, was registered in Panama, a secretive offshore haven, but was not named in the SEC settlement. Rhino and Amro specialized in death spiral financing, which has been used by many companies who are either complicit, desperate or ignorant of the impact that convertible debentures with fluctuating conversion terms can have on a company's stock price. Despite a contractual provision otherwise, the SEC said that "Rhino engaged in extensive short selling and prearranged trading on behalf of its client prior to exercising the conversion rights under the debenture. This short selling increased the supply of shares in the market and depressed Sedona's stock price. "As a result of the depressed stock price, Rhino's client received more shares from Sedona when it exercised its conversion rights under the debenture than it otherwise would have received. Following the conversions, Rhino engaged in wash sales and matched orders to cover the short positions and conceal the client's involvement in the scheme." Amro shorted almost 873,000 shares of Sedona in March, 2001, of which more than 785,000 shares were sold short before its first exercise of conversion rights of its debenture. These delivery failures triggered clearing failures at Depository Trust and Clearing Corporation, which in turn prompted the National Association of Securities Dealers to placed a shorting restrictions on Sedona shares on March 22, 2001. Under these restrictions, further short sales would be subject to a mandatory closeout if there was a failure to deliver the securities after 10 days. According to Stockwatch, Rhino then did an "end run" around the U.S. regulator by shorting Sedona in an Amro account Mr. Badian controlled at a helpful Vancouver brokerage, shorting another 350,000 shares of Sedona between March 30, 2001 and mid-April. "The aggressive shorting helped knock Sedona's market price down from $1.43 a share, the average between Jan. 26 and March 1, 2001, to $0.75 by March 23, after three weeks of continued shorting. Four days later, Amro did its first conversion at just under $0.80, based on a VWAP of $0.94. Subsequent conversions the next month were done at prices down to $0.64. The SEC stated that in the five trading days prior to March 27, the conversion day, Badian's trading averaged more than 25 per cent of all Sedona volume," said Stockwatch. "This was not all. Under the skillful hand of Badian, Rhino rigged the market further. The SEC notes that instead of delivering the converted shares directly to U.S. brokerages where the short sales occurred, Rhino did wash sales and matched orders out of the conversion shares account to the short selling accounts." The SEC stated that "this created the appearance that the accounts that had short positions were purchasing shares in the open market and not covering short positions with shares obtained through conversion of the debenture." "On at least 10 occasions during April, 2001, Badian directed transactions involving no change in beneficial ownership of shares of Sedona stock or placed buy orders for shares while simultaneously placing sell orders of substantially the same size and price." According to Stockwatch, the SEC stated that Rhino's trading allowed client Amro to profit from the scheme in at least two ways. "First, the short sales locked in a sale price for the Sedona shares that was higher than the conversion price for the shares ultimately used to cover the open short positions. Second, Rhino's short sales increased the supply of Sedona shares in the market and depressed the price." "As a result of the depressed market price, the client converted the debenture to a greater number of shares of Sedona stock, which were already discounted to the market, and which it then used to cover its previous short sales made at higher prices," a court filing revealed. Naked short-selling has embroiled at least 119 public companies, including 13 brokers such as FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ:NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ:MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN). A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ:AMTD), Deutsche Bank AG (NYSE: DB), and E*Trade Group, Inc. (NYSE: ET), which have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades. Andreas Badian has been released on $2 billion bail after pleading not guilty to securities fraud, but his younger brother Thomas is thought to have left the country. An arrest warrant has been issued. Rhino and Thomas Badian had already paid $1m in February to settle SEC claims, but the SEC did not charge Andreas Badian or their client, Amro International, based in Switzerland. The Wall Street Journal reports that Andreas Badian told his broker to sell Sedona shares short with "unbridled levels of aggression," and to be "merciless" with it, and later congratulated the broker on a "good job" because the stock price had "collapsed. " This account was supported by tape recordings of telephone calls to the broker. Judith Burns noted in her article in the Wall Street Journal that "Naked short selling occurs when short sellers fail to borrow stock before engaging in short sales. The SEC proposed changes this fall to curb manipulative, naked short sales, but it has yet to act on the measure, to the dismay of companies and investors that claim to have been victimized by the practice." Some observers have predicted that the criminal charges are only the tip of the iceberg, and that before it is over, numerous stock manipulators will be charged. Not content with the current effort by the U.S. Securities and Exchange Commission to enact "Regulation SHO," intended to curb illegal naked short selling which the SEC describes as rampant in the U.S., a group of individual investors are seeking to "investigate the SEC" via petition at www.investigatethesec.com for what it calls years of inaction as investors lost millions, perhaps billions of dollars. In the U.S., the controversy is the subject of Regulation SHO, which is available at the U.S. Securities and Exchange Commission website through January 5. The SEC said that comments should be sent by hard copy or e-mail, but not by both methods. Comments sent by hard copy should be submitted in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. Comments also may be submitted electronically at the following E-mail address: rule-comments@sec.gov. All comment letters should refer to File No. S7-23-03. Comments submitted by e-mail should include the file number in the subject line. Comment letters received will be available for public inspection and copying in the Commission's Public Reference Room, 450 Fifth Street, NW, Washington, DC 20549. Electronically submitted comment letters will be posted on the Commission's Internet web site (http://www.sec.gov). Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against. Some 106 companies among the 119 named to date have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain. The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ:CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ:DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH); Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ:ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI); Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ:SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA); Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ:SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK). For up-to-the-minute news, features and links click on http://www.financialwire.net FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment.