eLayaway, Inc. (fka ELAY)

[Honest_Devan]

I believe all retail allows it as long as you have the funds for the sale and the margin account covers the balance if not I know UBS and BOA allow it. Naked Shorting is not a short sale of money that you don't have necessarily, its doing a sale of of borrowing large amount of shares lets call X and use ELAY @ 0.014 as the example. They then sell that borrowed large amount X of shares to buyers at 0.007 where the demand wasn't available to begin which forces the MM's to take whatever prices available killing any move upward unless the demand is there.

When you short your supposed to seek a certain amount of borrowed shares and only match that sell to that exact same amount below, if that demand isnt there to match your sale you've broken the rules and its becomes a naked short sale.