Knight is most likely in trouble...
in his letter:
Additionally, the elimination of the grandfather provision will lead to increased volatility in these securities, created by short squeezes as individuals attempt to cover positions. Importantly, the elimination of the grandfather provision will negatively impact bona fide market making and the ability of market makers to provide liquidity. As the Division of Market Regulation correctly noted,
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The Sec has to be tired of this crap, seems rather unfair that naked shorting was ever tolerated.It only benifits the cheating MM's ! Next to naked shorting to me is phantom shares. I had bought into a company and added up institutional holdings this that and the other and found that 10 of millions of shares were unaccountable ,i googled phantom shares and found that alot of companies had that problems all roads lead to corrupt MM's . Thier day is over. They've made a ton by playing thier games ,its about time they walk the line. Back to naked shorting, yes we do not know if has occured here ,all we know is last friday a MM walked down the pps on low volume ,perhaps they need to cover and prefer to try to grab as many as they can this week.
re: DLAV 's patent pending on thier Internet based sales software---does anyone know if the patent has any competition? I'm sure our President/Ceo Steve did a patent search prior to spending the money for a patent ? Or can you talk with Steve for me on this issue. I can be reached on Pm here or at lordwinmore at yahoo
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