Any comments?
Subject: Sit and wait,
From mguru
PostID 391403 On Wednesday, March 30, 2005 (EST) at 5:36:14 PM
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appears to be the general attitude on this board, with all the posts I've read in response to my sharing my 15 year experience on these mechanisms at work on wall street, yes it's been going on for that long, at least. We all should know what the consequences of sitting on your hands will get you, and is the main reason that this crime has been allowed to be perpetrated against the ''Unknowing'' for so long. Let me clear up a couple of misconceptions I have read so far, and answer some questions, mainly from HRH.
First, you can sell your stock anytime (unless there's no market for it.), ''EVEN'' if you have the stock certs in your hands/possession. In this particular situation the client is allowed more time if needed to settle this trade, but is NO problem, call your broker and ask? Owning your own certificates is the best thing to do if in fact your stock is suspected to have been illegally traded ''Naked Short Selling.'' BUT, will only have the positive act of ''Short covering.'' if at least the far majority (but needs everyone to be completely accurate>), of the shareholders participate and request their stock certs. What happens when unscrupulous MM's/Hedge funds, illegally trade a stock by naked short selling it, then the best way to know for sure, is what I have already outlined here once before, as has DATELINE's RESEARCH. I'll say it again for those that are concerned about this, as you ''ALL'' should be. I know it's easier to bury your head in the sand and avoid confrontation, but that could be very costly here. The best way to know for sure that a stock you own has a naked short position in it, is by comparing the DTCC report (Deposit Trust Clearing Corp.), report, which is report that shows where all of a co's stock is being held, at all the other clearing firms, that there has been ''Good Delivery.'' They don't have to disclose the ''Naked short position.'' or ''Failed deliveries'', how convenient? (HUGE CASH COW!) Then you add up all the shareholders statements and all certs being held by the investors in their name, and then subtract the two figures and if there's a difference, then there is a Naked short position. See the broker dealers have to send you a statements/confirms as to all your transactions, no hiding this. What happens if this is so and everyone plays by the rules? Once a naked short position is identified, then it can be remedied by depleting the ''Loan Pool.'' at the DTCC, making them have to ''BUY IN'' every share extra, that has been requested by investors beyond, what's in the lending pool. Let's use Globallink as a good example. They have 1,000,000 shares outstanding. That's it! One guy has filed a 13d (beneficial ownership.), of all 1,000,000 shares and has the cert in his safety deposit box. How then does the stock trade hundreds of millions of shares after he filed this, when they’re all bought up? Someone's selling shares they don't own to people who want to buy it. Here's the reality of Globallink. If everyone is following the rules, and the regulators are doing their jobs and enforcing them, then every single share that was sold that wasn't owned by the sellers/traders/crooks will be bought in by the clearing firms doing their jobs, after 13 days. Result: Unless the guy(s)(now there's 2 guys who own it?), want to sell, then these shares would skyrocket up, until everyone who has bought shares in Globallink, this includes all the other buyers that are entitled to receive their certs as well, until the clearing firms finds real sellers, hence real shares. So, if everybody that has bought Globallink shares decided they didn't want to sell for anything less than X, that's the price, the shares would go to until this naked short position is flat from the buy in. This is called a ''Short Squeeze.'' and is the only remedy and right course of action to take on stocks that have been discovered as having been victimized/abused and have a Naked Short position in their stock. It's been a very quite, clever manipulation and breaks the rules that make the market fair and balanced for all. Nobody seems to be enforcing the rules and as a result, countless co's have had to file bankruptcy as their stock's are almost worthless, after selling short infinite amount of shares, and therefore are not able to raise the capital they need selling their shares to continue ongoing business. If a broker tells you, that he doesn't know how to short sell a stock, being listed, mainly BB stocks, that's ok. Most brokers don't know how this is done, as it is mainly done by manipulating MM's, and crooked clearing firms, mostly by Hedge funds, by the way, who are fighting to keep their non-disclosure status from being changed, it's in congress now. I wonder why they’re lobbying so hard? Also, I know of co's execs who have had their life threatened by shorters, if the co. didn't sell the shorts shares, so they could then cover their short position after inflicting massive damage to the co's share price. I hope I am making a difference here, I have spent a lot of time sharing this info, and except for HRH, and a couple of others, I'm not seeing that this topic is of concern to their investment, even as a Notorious Short Seller (Amr Anthony Elgindy.), is convicted of securities fraud, and has admittedly been a big short seller of e.digital, WOW!, if you only knew??? If that doesn't have you scratching your heads, for all the skeptics, or those of you that want to learn more knowledge about this, do yourselves ''ALL'' a big favor and mark your calendars for April 10, and make time @ 7:00pm est. to watch ''THE VERY LONG AWAITED STORY'' as this very heated topic airs on Dateline and this unbelievably controversial subject goes public for the first time. I hope no one steps in and tries to pull the plug, and if so be very concerned! I will not waste my time anymore with this subject unless there is a large genuine interest. And how we can do the most to protect e.digital from this on going abuse. By the way, if most brokers aren't aware of this loophole (Naked short selling.), on Wall Street and the mechanism, don't expect company exec to have a clue. Peace out! mguru (p.s. if your interested in learning more and willing to open an account with me, I'll gladly spend the time to share more of my knowledge on the stock market with you. e-mail me at mitchm88@cox.net)
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AI
