ecp1976; One thing you must know about the REG-SHO list, is that any short fails that were present on a security prior to that security being placed on the SHO list are exempt from the 13 day covering rule, it's like a grandfather clause for the MM's! I know it sucks bigtime, but thats our SEC Looking out for the MM's! I thought it was a joke until I had a couple very in depth conversations with people from the SEC and the NASDAQ. I couldn't believe my ears. The 13 day covering rule only applies to short fails that occur on a stock AFTER it is placed on the SHO list. I personally lost money on the misinformation that was floating around, it was misleading investors into thinking that if they bought stock in companies on the SHO list that the MM's would have to cover and the PPS would go up, but they failed to inform investors about the grandfather clause the MM's had in their back pocket, only the investors who really did their DD on the subject found out the truth. If MLXO gets on the list now, then you know they will have to cover, but any short fails that existed prior to it's entry on the list are exempt.
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