Replies to post #39730 on Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Look at yesterday's volume/price chart and tell me that MMs didn't short a pile at 74 cents yesterday.

You mean per the example I gave. Where the pile of Shorting, resulted in no Short positions?

The last meaningful Short report or the bi-monthly FINRA report showed 332K shares of "Short Interest" up to 30-Oct. Not to be confused with an actual Short position (ref: Rule 203).

As per what you posted:

The problem is exacerbated by the MMs being in a situation, where they can do this without any accountability,

Excuse, but there is accountability. Both legs of the trade end up being reported to FINRA. Any MM engaging in naked shorting outside of riskless trades, and not having a way to cover, would have a pile of FTDs. With accountability ultimately to FINRA, and the SEC.

Then there's

You can see them trading between themselves to give the appearance of selling in order to lower the price

Wash trading as such is illegal. And the SEC regularly nails 3rd parties who try it in Microcrap scams. A MM responsible for FTDs would be quickly noticed.

Whoever submitted the comment to the SEC, just doesn't understand how the Market works. Instead we have:

I have witnessed the effect of this type of potentially illegal manipulation on the price and movement of a stock

In another words they lost money, and want to blame it on a Naked Short Selling conspiracy by the MMs.