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Wednesday, July 07, 2010 12:47:25 AM
thats about all anyone can say about what the report means, my graph is somewhat more insightful in that you can see the 3 main peaks that the FTD volume under each peak was successively less and that in the middle peak on 5/26/2010, what buyins called a 'normal' trading day was anything but normal, stock went up with minimal FTD's this is key, you look at the curves for FTDs on my chart and you see the FTD pressure got weaker, then the Third and final peak the shorts hit it harder but the shorting about that day decreased
the upshot is that the shorts came out strong for the first peak and weakened there after, when they didnt succede during the second peak, they hit harder on the 3d, but not as hard out of the gates weeks earlier.
it was to the shorts good fortune that the markets weakend but imho they did do a lot of covering during a several week period in the early part of the run up. But only again to take on an even more lucrative short position from whence the stock was higher. based on my charts (below) I think its more reasonable to assume that the stock as a short position of more like 50,000,000 shares tops rather 150,000,000, but this is assuming that there is some kind of internal regulation such as margin control, fear, etc. or whatever you want to call it that could compel a naked short seller to cover their position
Additional Note: because ooag does not have a "traditional SRO" we need to get to the otc.bb asap so that the stock obtains one, once we do, FTD's Thresholds, etc will all have to be (ultamately) adhered to (though some shortsellers undoubtedly will drag their feet!).
I think its safe to assume that if we work with the SHO once we get on on the otc.bb, the stock will rally hugely within the first 3 weeks simply based on compliance requirements of finally being a threshold security!
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IV. Threshold Securities
A. The Basics
1. What is a Threshold Security?
Threshold securities are equity securities that have an aggregate fail to deliver position for:
•five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC));15
•totaling 10,000 shares or more; and
•equal to at least 0.5% of the issuer's total shares outstanding.16
Threshold securities only include issuers registered or required to file reports with the Commission ("reporting companies").17 Therefore, securities of issuers that are not registered or required to file reports with the Commission, which includes the majority of issuers on the Pink Sheets,18 cannot be threshold securities. This is because the SROs need to look to the total outstanding shares of the issuer in order to calculate whether or not the securities meet the definition of a "threshold security." For non-reporting companies, reliable information on total outstanding shares is difficult to determine.
-real
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