Capstone Companies Inc (CAPC)

[lakingsphan0427]

yesterday there are new discussion from sec about the shorts:

the SEC had a meeting yesterday that could be very significant for any stocks. We all know about the naked short list, and that brokers are supposed to support any short sales with borrowed shares within three days, etc. However, shorts that existed when a stock was put on "the list" were grandfathered in and didn't have to immediately cover the short with borrowed shares or clear the position. The point of that grandfathering was to avoid a "short squeeze" whenever a stock got put on the short list.

Well, the SEC decided yesterday to eliminate that grandfathering, which means that all short positions, old or new, will have to be covered or cleared immediately. I believe there is some sort of 30 day discussion period so this won't go into effect immediately...


LAKINGSPHAN