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Wednesday, March 21, 2012 2:52:08 AM
ANY transaction that is not completed within the same broker (ie buyer and seller using the same broker/clearing house) will show as a short in FINRA. This short is "closed" as soon as the broker receives the shares from the other broker. That is a simple explanation of how there are shorts everyday.
Example, for you L2 watchers, if NITE has 100k ASK at .02 and UBSS buys 100k shares at ASK, those are considered short until it clears. If NITE has 100k ASK at .02 and NITE buys 100K at ASK, those are not considered short.
For a logical person does that not sound like a more logical answer then some conspiracy theory of a huge naked short of a penny stock with a 17 million market cap?
I'll have to post this reply 10 times a day to keep up I guess.
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