RRR: I'm not sure we can do this legally. People can put their shares up at a high limit sale price because they think there might be a short lived spike after a good PR, but I don't think they can do so with the intent of damaging these shorts.
Maybe Chiugray should delete and repost on Yahoo if he feels it is necessary from this perspective.
--------------------------------------------------
Pyrrhonian's link yesterday about naked short selling solves the mystery of who in the world would have sold 3M shares at $6 in response to the PR on the early Direct results. Trading volume had been 150K/day for many days prior.
It is now clear that AF leads the way with a fabricated, negative twist, with the purpose of creating an explanation for why so many shares are subsequently sold. Myself and others had speculated that was AF's role. But as I pointed out back then, it still made no sense, because neither selling nor shorting the stock made sense, with or without AF's phony cover. It only makes sense now because we find that shorting is sometimes done with no intent to ever cover... sort of. The real purpose is to manipulate the stock price, which is illegal as hell, but apparently never pursued by the SEC. The SEC put some time limit to cover, but according to that video, the illegal attacks on some companies increased 10 fold after the law was put in place. And the SEC apparently did nothing in response.
In fact, with regularly repeated naked short attacks, these naked short sellers could drive the stock price lower, providing their own opportunities to cover at a gain, prior to reaching a regulatory deadline to cover their previous shorts. So they could do that forever without ever reaching the deadline to cover. And it would be legal. UXB!!!!
These guys apparently focus on emerging players with something that threatens the status quo. Such as overstock.com. But to do it to a company because their cancer cure looks promising would open them to public fury. It is clear that the SEC doesn't care about these things. But people care about things like cancer cures being scuttled. They rally and hold 10K runs to gather funds to further their efforts. These efforts would be civil and criminal complaints, and changes to the laws. Maybe adding a law that every share traded has a name on it. Not a public name, but a name. And after those efforts fail, who knows what people might do, if they could find the culprits. And the talented hackers would then get involved. Finally a cause that is clearly good for their talents. Of course they already have AF and his two boss's names. They just need their addresses.
So maybe more important would be learning more about efforts to expose these people. And making notes on incidents like what happened after that last PR.
AI
