Replies to post #31633 on CSMG Technologies, Inc (fka CTGI)

[Foxwoods Man]

Maybe your broker sold them to you short...I think that is possible

[drive]

You bought the shorted shares if you got your 9200 at bid. Very risky on thier part with news looming. Unfortunatly though, some don't have to abide by the same rules as average investors. The SEC needs to do more than give lip service on this matter.

[sojourner]

Not unusual for a MM to sell shares not in inventory to provide "orderly" market and order flow. Upgraded SEC regulations require MM to cover such "phantom" shares T+3, i.e., by settlement date. If short-sold shares not covered (borrowed or purchased) at outset of first trading day after settlement date, a "fail to deliver" is noted. At which point, RegSHO comes into effect. MM cannot then short sell stock in question until fail-to-deliver is closed out. All in theory, of course. However, were the Bard alive, would he iterate, "It is a custom more honoured in the breach than the observance"? Let's hope not! :-)



ctgi