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Monday, March 15, 2010 3:40:44 PM
"Naked short selling is the act of selling without owning or borrowing shares. Because no borrowing is necessary, naked short selling can be executed faster and in larger volume than the ABCD method of short selling. A criminal might introduce a sizably quantity of shorts for sale, destabilizing the market and driving the price of the stock down.
Usually, naked short sellers have three trading days to borrow the shares backing the shorts. But Regulation SHO of 2005 allowed close-out of fail-to-deliver positions for as long as 13 more trading days."
Thus far, it has been 10 days from the time CCTC was added to the Short-List...
Today Monday, tomorrow, and Wed. would bring the total to 13 days, the maximum allowed days to "COVER".....if I understand this correctly.
Can Admiral verify?
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