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Re: ThSeeker post# 38980

Wednesday, 12/10/2008 10:16:38 AM

Wednesday, December 10, 2008 10:16:38 AM

Post# of 118239
ThSeeker,
there will be an enforcement of Rule 203(b) issued by the SEC.
If you bought shares at any time and they have settled by the legal T+3 timeframe, those shares are yours, nobody can take them from you and they are very real.
If your broker just filled your order with naked short air shares, then it's their problem to deliver to you what you paid for that settled.
If they bought them from a mm, they force them to deliver what they sold.
There are two set of lists, one at the DTCC and the nobo/obo lists that the brokers keep, the numbers are compared, and then the oversold position is discovered, then these laws get enforced.
RCCH is moving off the US Exchanges, so there will be a "reconciliatation" of the oversold postion, to say the least.
There is no way around it either. There will be a couple week timeframe most likely to allow for this short to be 'bought-in' properly.
That time draws closer everyday.
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