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TigerTrader83

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TigerTrader83

Re: ThePennyTrader post# 151534

Tuesday, 07/28/2009 8:15:35 PM

Tuesday, July 28, 2009 8:15:35 PM

Post# of 346917
PennyTrader, i think it is important to note that while naked short selling used to be allowed as you said by market makers and such it is now illegal, it has been since October 08 and was just made permanent.

"The Securities and Exchange Commission said Monday that it was making an interim rule permanent that banned the practice of so-called “naked” short selling.

The new rule requires investors who are short selling a stock to take actual delivery of the shares within a few days."

http://www.hedgefund.net/publicnews/default.aspx?story=10275
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