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Re: Ripnrob post# 47130

Thursday, 07/07/2011 12:00:55 PM

Thursday, July 07, 2011 12:00:55 PM

Post# of 92684
More interesting tidbits for your expanding knowledge on this 'theoretical' massive shorting scenario. I particularly like the 'purchasing aspect'...got my sell orders starting at $1.25 now:

Final Rule 204 contains the same basic provisions as temporary Rule 204T:

Accelerated Close-Outs. Participants of registered clearing agencies must deliver equity securities to the clearing agency for a long or short sale by the settlement date. If a participant has a fail to deliver position at the clearing agency relating to a short sale, the participant must immediately close out the position by either borrowing or purchasing the shares before the beginning of trading hours on the first settlement day after the settlement date.

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