iHUB POLITICAL ACTION BOARD (iPAC)
(Zeev, this is not in response to your post. I merely selected your message as an entry point to post the following. flg)
It has been suggested that the members of iHUB work up a petition requesting the daily release of short interest. Doing so will require the concerted effort of our members. You know, a "From each according to his ability ..." kind of thing ... however ironic it may be for a bunch of capitalists to adopt half of the hated Communist Creed. Here is my suggestion for putting the process in motion.
1) Set up "iHUB POLITICAL ACTION BOARD (iPAC)"
2) In the iBox, put
a. The current target issue (right now, short interest)
b. The format for a letter to the government.
c. The mailing address for the Securities & Exchange Commission.
d. Links so members may look up the names and addresses of their congressmen.
e. A series of paragraph or letter suggestions, from which members may select those which best express their wishes.
3) Those interested in the issue will create a letter from this material, edit it, add to it as they see fit, add their proper name and address, print it, and submit it.
4) The message section of the board will be devoted to suggestions for improving the process, discussion of the issue(s), and submission of draft paragraphs.
5) The discussion of issues may lead to heated exchanges. That is neither bad nor unusual, but it is not an excuse for discourtesy. To the extent any portion of the administration of the board devolves on me, I reserve the right to remove any post which, in my sole opinion, is inappropriate.
Although I am drafting this material, I do not want to moderate the board. Because I think it is an important idea, I will do so, initially, by default. However, there are many others who are better able than I to infuse the concept with the fire it needs to succeed. It is my sincere and honest hope that someone will pick up the challenge ... and soon.
A footnote for our younger readers: Moderating a serious and important board like the Political Action Board could be a springboard for a career. I know. I've done it. In the 1980's, I volunteered to edit the newsletter for the Amateur Computer Group of New Jersey. It seemed like a stretch at the time since I was a career truck driver with no college background. It wasn't ... it led to a successful second career in data processing. Learning to communicate effectively is a vital ingredient for success. Moderating the Political Action Board is an excellent place to learn the risks and rewards and develop the talent.
The next step(s).
For this effort to proceed, someone will have to supply me with the material for the iBOX; the proper format for a letter to the goverment, the proper name and address of the Securities and Exchange Commission, a link to a place where members can find the names and addresses of their congressional representatives. If someone does not step up to handle the moderator chores, I will create the board and begin to populate the iBOX. Thereafter, I'll let nature take its course.
Here's a very rough draft of a letter:
Dear Senator <whoever>
Due to the economic slowdown and dearth of job opportunities, I'm trying to make a living trading stocks. I find myself at a severe disadvantage. The Short Interest (the number of shares borrowed and sold because the seller believes the index or the company's stock will decline in value) is available to professionals dynamically, but is only released to the public two weeks after the end of each month.
Short interest is recorded with every trade and reported to exchanges with the data that makes up the volume and price reports. There is no justifiable reason for hiding the short interest portion of the information for up to 45 days, except to keep lay investors like myself at a disadvantage.
Dynamic access to this information gives the professionals inside information which works to my detriment. Because he knows what the short interest figures are, he has a clear advantage. It is impossible for me to make a rational decision about the purchase or sale of a security when I do not have this vital information. By the time I get it, it is stale and worthless.
It is imperative that this preferential treatment of the securities industry be stopped. Please intercede with the Securities and Exchange Commission and exert your best efforts to see that Short Interest data is released to the public as soon as it is released to the trade. Given the economic conditions, I need this relief quickly and would like you to accomplish it, by persuasion if possible, by legislation if necessary.
Respectfully submitted,
Fast Freddie Felson
Green Felt Lane
Fats, Minnesota
For all the formality of the foregoing, these are just ideas to get the ball rolling. Under the guidance of those interested in accomplishing needed changes, we may end up a long way from here.
Fred
AI
Market Data 
Markets 
