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Friday, April 21, 2023 12:00:57 AM
The MMs shorted 5 million shares on 4/20/2023 that is shown on the Daily Short Sale Volume Files, Reg SHO Rules. Nothing changes that fact. They could cover that shorting tomorrow or in 3 days or in 10 days and it does not change the fact that on 4/20/2023 MMs sold 5 million shares that they did not own and had not borrowed, Naked Shorting.
If the MMs have not covered their shorting after 13 days it goes on the Bi-Monthly Short Report
“The Daily Short Sale Volume Files provide aggregated volume by security for all short sale trades executed and reported to a TRF, the ADF, or the ORF during normal market hours for public dissemination purposes (i.e., media-reported trades). The short interest data reflects aggregate short positions held by market participants at a specific moment in time on two discrete days each month, while the Daily Short Sale Volume reflects the aggregate volume of trades executed and reported as short sales on each trade date.”
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Bi-Monthly Short Reporting
"Pursuant to FINRA Rule 4560, member firms are required to report total short positions in all customer and proprietary firm accounts in all equity securities to FINRA on a bi-monthly basis. These filings are made online using the Short Interest reporting system accessible via FINRA Gateway at gateway.finra.org."
"The Reporting Period: Firms must report their mid-month short positions as of the close of business on the settlement date of the 15th of each month or, where the 15th is a non settlement date, on the preceding settlement date. Firms must report their end-of-month short positions as of the close of business on the last business day of the month on which transactions settle."
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A pretty simple system, one tracks 'Short Term' Shorting the other tracks 'Long Term' Shorting. I have never said there was 'Long Term' Shorting in BIEL.
MMs are very happy to manipulate a SP on a daily basis by selling shares they do not own and covering the Naked Shorting before it has to be recorded as a 'Long Term' Short. If they are questioned about the shorting of a particular stock they claim the MM 'Making a Market' Exemption. They were just making sure that the stock had Liquidity and investors could always Buy & Sell that stock, to do that they had to sell shares that they did not own and had not borrowed.
Computers control all of the trading and the MMs program their computers to make them the highest profits possible within the rules of the game. The 'Making a Market' Exemption and up to nearly 2 week grace period to cover shorting give them a lot of opportunities to maximize profits.
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