TheDirectory.com Inc (SEEK)

[tommyedwards]

Do the longs recall a while back when Scott said he felt that the SEEK share price was being manipulated? He then went on to say that he was investigating ways to correct this problem. Well, I really feel that he has also taken measures and advice from WS firms/investors that he's met with to take the bull by the horns and fight back against short manipulation (and for those familiar with the term "naked shorting") Naked shorting is when hedge funds create 100 or 1000 "phantom shares" for every share that they short a company. These shares are never covered unless a company is able to up list themselves to a new exchange. At the same time every day or other day Scott has been hammering out news to keep all prospective investors on the edge of their seats. I think he knows the strategy to catch these shorters and he's using all of the news to hold these shorters (and naked shorts) hostage until September. This guy was also a hedge fund manager in a prior career, so possibly he has also been exposed to the in's and out's of these tactics. As another poster mentioned, it is true, that shorters might be forced to cover billions of shares, if indeed they naked shorted SEEK.

GLTA