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Re: gump90 post# 65981

Thursday, 07/29/2004 8:53:29 PM

Thursday, July 29, 2004 8:53:29 PM

Post# of 358439
Oh for God's sake, Gump. Al Capone wasn't a public company whose books are reviewed by independent accountants.

Given recent stock market scandals, I'm not saying the books can't be cooked to some extent. But you can't just make things up. The real point was that people weren't READING Enron's SEC filings. Once they started to do so, it was painfully obvious that they were juggling numbers to conceal losses.

I know how you feel about GMXX, and I agree with you that there WAS a (rather small) naked short position in it a couple of years ago. But you stubbornly refuse to "understand" that at the time GMXX had a tiny float, and so a small short position could make a difference to stock price. CMKX is entirely different. There's so much paper floating around that you'd have to short an enormous amount in order to make any profit at all. And that would be way too risky, for reasons I've outlined in several previous posts.

You KNOW this, Gump. You're just unhealthily obsessed with naked shorting.

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