NewStream Energy Technologies Group Inc (NSGP)

[trader53]

The key word is here is "Abusive".

"Abusive" Naked Short Selling is not legal.

What the critics are actually referring to is what the SEC describes as "abusive naked short selling," in which (a) short sellers sell shares they have not borrowed, and (b) are unable to deliver those shares on the settlement date of their sale. The SEC wants to eliminate abusive naked short selling through a series of measures that took effect on Thursday, which penalize failures to deliver borrowed shares at settlement.

Myth No. 2: All naked short selling is illegal
This myth is unfortunately widespread, but it's simply false.

http://www.fool.com/investing/dividends-income/2008/09/22/the-truth-about-naked-shorts.aspx


We don't know if anyone is doing "Abusive Naked Short Selling" in CCTC, we do however, know that it is being done.

In only 2-days, the 13-day limit on the delivery of those naked shares has to take place I believe. CCTC was placed on the List on March 30th....it has been 11 days so far.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=3&dy=0&id=p31718579370