Thanks for the information, Joe. I've been thinking long and hard about this since I first read what you posted. It seems to me that the action that the SEC took, which according to this article was passed unanimously and without any resistance, will give the Market Manipulators what they need to consider the issue of having to cover their naked shorts after October 15th, no big deal. The SEC action of removing the restriction to selling short into a falling PPS has created a windfall for the MMs. They’ll make all the money that they want to now.
It seems to me that all they have to do after this takes effect is sell naked shorts against a stock that is in an uncertain phase, to cause the stock to fall. Then continue dumping counterfeit naked shorts into the pool by the truckload as the PPS falls, causing it to continue down. They can do that until it rather quickly hits the very bottom. Then the MMs buy at the bottom to cover their naked shorts as the stock is laying motionless on the ocean floor. So much for the “new requirement” to cover naked shorts, being a benefit toward fair and honest trading. The SEC has created a new form of the same game for the MMs. It must be intentional. When the lights were pointed toward naked shorts, the SEC was forced to put a lid on the naked short issue. But at the same time, they then opened another door that leads to the treasure they had just taken away.
Am I missing something (?) or is that how this will now work?
It seems like a huge conspiracy that the SEC is in on. Are all these rule-makers in bed with the street-level crooks we call MMs and the brokers who try to appear to be banker types ?? Is there no end to the ever-increasing corruption, …this side of the Coming of Christ?? It gets worse by the hour.
