In reading the RB post from roundmot_2:
"By: roundmot_2
18 Apr 2005, 01:39 AM EDT
Msg. 137323 of 137338
(This msg. is a reply to 137304 by end2war.)
Jump to msg. #
end2war - Actually I found out from the NASD that CTKH has been naked shorted but apparently only in the sense that the MMs have sold unauthorized shares to keep the market fluid. But even then, it appears that they were not using the 4.7 billion share O/S to calculate the percentage of naked shorts.
According to the NASD rep I spoke to, the company was included on the SHO list by mistake (the are not a registered company and therefore should not have been on the list,"
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Translates to: Even if CTKH was quadruple shorted for 20 billion shares we wouldn't tell you.
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"even if they were naked shorted more than .5% of the O/S). But I also found out that they did not calculate the naked shorting as .5% of the actual O/S of 4.7 billion, but rather .5% of the total shares included in the RegDEx filings."
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Nasdaq can't do it right. We're so dumb we have a sophisticated computer controlled system that gets messed up by some $200,00 a week clerk pumping in the wrong figures.
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"That means that even if there has been naked short trading of this stock, it is a total of only ten thousand shares or so, not hundreds of millions. Therefore, I suggest that it is a non-issue. JMHO of course."
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Yup. And I guess all the other stocks on the SHO list have some error or that means they shouldn't be there. Of course that could mean that all the stocks NOT on the SHO list might be off it because of error. But I guess that is another non-issue.
This post is in no way a swat at roundmot_2. He made the effort to contact NASDAQ. HOWEVER, it sure is a SWAT at the sloppy practices and inconsistent policies of the NASDAQ people.
I have stock in DNAP and we showed up on the Daily List as having been removed from OTCBB and went Pink. OOPS Sorry. We got that wrong, see the little note in fine print at the very bottom of the page!
So if NASDAQ can make all these misteaks that we are aware of, how much trading is predicated on false and unreliable information on other stocks?
Essentially NASDAQ has resorted to disemminating information on message boards after someone calls them and questions the accuracy of what they publish. It would seem that NASDAQ needs a page for "CORRECTIONS" so that the false and misleading information they propagate can be reviewed and a determination made about how much credence what they report should be given in making investment decisions.
Stakddek
