Blue Diamond Ventures Inc (BLDV)

[TASHI]

You are wrong. Plain and simple.

Market Makers / Hedge Funds / Off-Shore Trusts reside in a world where naked short selling is very much alive in all securities, including Pink Sheet stocks. You're the one that's hoping.

The action on 10/17/08 by the SEC targets "abusive" naked short selling in all equities.

http://www.sec.gov/rules/final/2008/34-58773.pdf

"SECURITIES AND EXCHANGE COMMISSION
17 CFR PART 242
[Release No. 34-58773; File No. S7-30-08]
RIN 3235-AK22
Amendments to Regulation SHO
AGENCY: Securities and Exchange Commission.
ACTION: Interim final temporary rule; request for comments.
SUMMARY: The Securities and Exchange Commission (“Commission”) is adopting an interim final temporary rule under the Securities Exchange Act of 1934 (“Exchange Act”) to address abusive “naked” short selling in all equity securities by requiring that participants of a clearing agency registered with the Commission deliver securities by settlement date, or if the participants have not delivered shares by settlement date, immediately purchase or borrow securities to close out the fail to deliver position by no later than the beginning of regular trading hours on the settlement day following the day the participant incurred the fail to deliver position. Failure to comply with the close-out requirement of the temporary rule is a violation of the temporary rule. In addition, a participant that does not comply with this close-out requirement, and any broker-dealer from which it receives trades for clearance and settlement, will not be able to short sell the security either for itself or for the account of another, unless it has previously arranged to borrow or borrowed the security, until the fail to deliver position is closed out.
DATES: Effective Date: October 17, 2008 except §242.204T is effective October 17, 2008 until July 31, 2009."