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Tuesday, October 29, 2013 11:42:33 AM
It's as simple as this:
Naked short selling practices
Definition of 'Regulation SHO'
A regulation implemented on January 3, 2005 that seeks to update legislations concerning short sale practices. Regulation SHO established "locate" and "close-out" standards that are primarily aimed at preventing the opportunity for unethical traders to engage in naked short selling practices.
Investopedia Says
Investopedia explains 'Regulation SHO'
The "locate" requirement requires that a broker has reasonable belief that the equity to be short sold can be borrowed and delivered to a short seller on a specific date before short selling can occur.
The "close-out" requirement represents the increased amount of delivery requirements imposed upon securities that have many extended delivery failures at a clearing agency.
This regulation represents the first time that short sale regulations were updated since 1938.
Scroll to the bottom of this link:
http://www.otcmarkets.com/stock/NTEK/short-sales
Pay attention to the late August and early September days. We were trading around the 7 cent range back then, now, we are in the 17 cent range. Why? Simple, failure to deliver shares. They couldn't hold it down forever. At some point, it must go up.
So now, the cycle has repeated itself. We have enormous news right around the corner and there are several who have a short interest for various reasons.
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