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Toxic Avenger

06/13/09 8:29 AM

#34941 RE: sneaky_peaky #34935

Quite the tale of intrigue. Naked shorts that don't report their trades anywhere, yet somehow the company doesn't know it has millions of shares held by buyers for which it doesn't have outstanding shares.

"Use the nakeds to get their actual multi million share short position covered". How exactly do you use a naked short position to cover another short position? And how does the "non naked" short position not get reported as a short position?

"Yes, it is a multi million share short position held offshore. That way they can skirt reporting it anywhere. And being a hedge, it wouldn't show up anywhere, long, short, or naked."
So because hedge funds are not required to report their aggregate holdings to the government or SEC, you believe they also don't have to report trades? They can simply sell or buy phantom shares? I guess Madoff's hedge fund did that for a while, but those fictional holdings certainly don't affect any of the companies

"Now they are going net long." Won't they first have to cover that multi million share short position? Even though they've made millions by shorting at well over $2, they aren't yet covered, waiting to see the price go below 14 cents? And after crushing the stock down as low as possible, they're going to go long, try to lock up all the float and run it "to the moon"? AND they'll do all of this buying without moving the price because they were/are able to "talk it down" on message boards?

And despite their remarkable abilities to do all of this without the company being able to stop it, or any regulatory body to see it, they didn't realize that the SEC and other oversight bodies in the US have a record of all trades done?

I'd have to say you've either uncovered the biggest scandal in the history of the OTC (because I presume "they" didn't single out DA as the only stock to do this with) or you're a Tom Clancy wannabe who doesn't like to write a lot.

I'll reserve my judgement and leave it to others reading to form their own opinion.