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Re: None

Monday, 11/06/2006 10:39:18 AM

Monday, November 06, 2006 10:39:18 AM

Post# of 30387
Unless I miss my guess, most of the supply that we saw last week was provided by "naked short sellers". What they desperatly need right now is heavy sell volume so that they can cover their short positions at a profit. If the naked shorts stay on the books for just a few more days the result will be BOCX being listed on the Reg SHO list (see below). And while the SEC record in the past has not been good at prosecuting this mostly illegal practice, they have gotten MUCH better of late....and the last thing cockroaches want is to have a light shinning on them.

"As defined in Rule 203(c)(6) of Regulation SHO, a “threshold security” is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security;

The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and

The security is included on a list published by a self-regulatory organization (SRO).
A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days."
http://www.nasdaqtrader.com/aspx/regsho.aspx
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