Thursday, June 17, 2010 4:53:59 AM
OK, so I did some little DD around the "Reg SHO Threshold Flag" thing. I have listed a couple of relevant facts below and what this means for GLER.
Fact:
* A stock appears on the REG SHO Threshold Flag if more than 10,000 shares in a company or more than 0.5% of a company's total outstanding shares fail delivery for five consecutive days.
What this means for GLER:
According to http://www.otcmarkets.com/stock/GLER/short-sales GLER was on the 8th of June on the Reg SHO Threshold Flag list. This means that at least 10.000 shares fail delivery for five consecutive days already. Before the market opens today, the total of consecutive days would be 12. When market closes today, it will be day 13.
Fact:
Under the new rules, if shares haven't been delivered for 13 days after the transaction, the broker must buy them back -- with money it presumably would collect from the client who shorted the stock in the first place.
What this means for GLER:
The Naked shorts need to cover their position before the end of tomorrow at least. I read from earlier posts that the total amount of shorted shares of GLER were 3.2 million. This is not true according to my information.
I added all short volumes from the 1th of June until the 16th of June and then the total of short volume is 1.139.128 shares. I don't know how much there still needs to be covered from this number.
The 13-day time frame is far more important imo as brokers can work together to get around this restriction by passing the transaction among each other, starting the 13-day clock over again.
I would like to end this message with a short technical chart analysis.
* When RSI crosses 50, the bulls come in and play.
* The 31 MA proved to be a reliable support at 0.04
* The 50 MA is about to cross the MA 200. Still waiting for
confirmation, but if this occurs, it is a very bullish sign!
* Full Stochastics indicate that GLER is way oversold!!!
GLER - Daily Candlesticks
Fact:
* A stock appears on the REG SHO Threshold Flag if more than 10,000 shares in a company or more than 0.5% of a company's total outstanding shares fail delivery for five consecutive days.
What this means for GLER:
According to http://www.otcmarkets.com/stock/GLER/short-sales GLER was on the 8th of June on the Reg SHO Threshold Flag list. This means that at least 10.000 shares fail delivery for five consecutive days already. Before the market opens today, the total of consecutive days would be 12. When market closes today, it will be day 13.
Fact:
Under the new rules, if shares haven't been delivered for 13 days after the transaction, the broker must buy them back -- with money it presumably would collect from the client who shorted the stock in the first place.
What this means for GLER:
The Naked shorts need to cover their position before the end of tomorrow at least. I read from earlier posts that the total amount of shorted shares of GLER were 3.2 million. This is not true according to my information.
I added all short volumes from the 1th of June until the 16th of June and then the total of short volume is 1.139.128 shares. I don't know how much there still needs to be covered from this number.
The 13-day time frame is far more important imo as brokers can work together to get around this restriction by passing the transaction among each other, starting the 13-day clock over again.
I would like to end this message with a short technical chart analysis.
* When RSI crosses 50, the bulls come in and play.
* The 31 MA proved to be a reliable support at 0.04
* The 50 MA is about to cross the MA 200. Still waiting for
confirmation, but if this occurs, it is a very bullish sign!
* Full Stochastics indicate that GLER is way oversold!!!
GLER - Daily Candlesticks
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