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imiloa

09/18/08 4:45 AM

#35605 RE: Bulldog1811 #35601

Sadly, I'll believe it when I see it. The SEC has talked tough about naked shorting before, but somehow never really put the pressure on the hedge funds. Maybe something to do with the stat that 60-70% of retired SEC folks work as consultants for hedge funds. Conflict of interest? Surely not...
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doinit

09/19/08 5:58 AM

#35612 RE: Bulldog1811 #35601

read the pr carefully , there is still no teeth in it , the real problem lies at the feet of the mm's , they can go past t-3 to t-13 and no penalties for not complying , if they don't cover by the 13th day it only says they are not supposed to trade in that stock until they do , I have yet to see any penalties , after a price rises above their "cover" point they just trade shares with each other , it's been estimated that as much as 40% of trading volume is ghost shares to keep covered , they can, at this time , still continue to do this forever if need be , I watched trades on a stock today , where every buy that went thru , a mirror volume number was done approx. 10 seconds later , at a slightly lower price , not quite the same , just another mm game !!! GLTYA !!!