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Replies to #170137 on Monk's Den
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phrantic

03/16/10 12:09 AM

#170140 RE: steel_curtain #170137

Thanks SC. I realize what you're saying and totally agree, just pointing out MM games don't show up anywhere. Only someone with more money than brains would carry a short more than a few days, that's extremely expensive.
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Greenervps

03/16/10 12:12 AM

#170142 RE: steel_curtain #170137

maybe some of this will help;
Gee Part 1 is a fabrication and a lie also-
1. (FINRA WEBSITE)
“Aggregate reported share volume of executed short sale trades during regular trading hours”
http://regsho. style='background-color:yellow;'>finra.org/DailyShortSaleVolumeFileLayout.pdf

The data is gathered through reporting by broker dealers, which are required to mark sales either long sales, or short sales. So, its pretty easy to add up all the short sales, and release the numbers. Why are people trying to confuse the rest of us by talking about delivery periods?

2. SEC.GOV
Under Rule 200(g), brokers and dealers must mark all sell orders of any equity security as “long,” “short,” or “short exempt.” The primary objective is to make sure that orders are marked and executed properly and that accurate data on those orders is available for the pilot study and for surveillance and compliance purposes.
http://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm

3. SEC.GOV
Rule 200 – Definitions and Marking Requirements. Rule 200 incorporates and amends Rules 3b-3, 10a-1(d) and 10a-1(e)(13). It defines ownership for short sale purposes, and clarifies the requirement to determine a short seller’s net aggregate position. It also incorporates requirements to mark sales in all equity securities “long,” “short,” or “short exempt.”
http://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm

VERY CLEAR, LAST SENTENCE, IT IS CONSIDERED A LONG SALE, IF YOU ARE EXPECTED THAT THE SECURITY WILL BE IN THE PHYSICAL POSSESSION OR CONTROL OF THE BROKER OR DEALER NO LATER THAN SETTLEMENT.

4. LAW.UC.EDU
A broker or dealer must mark all sell orders of any equity security as "long" or "short." An order to sell shall be marked "long" only if the seller is deemed to own the security being sold pursuant to paragraphs (a) through (f) of this section and either:
The security to be delivered is in the physical possession or control of the broker or dealer; or It is reasonably expected that the security will be in the physical possession or control of the broker or dealer no later than the settlement of the transaction.
http://www.law.uc.edu/CCL/regSHO/rule200.html
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Long2Retire

03/16/10 12:20 AM

#170151 RE: steel_curtain #170137

I think this is a no BS board. I want it to stay that way. I'm glad you do too. I think it would be fair to say there are more shorts today than 5 weeks ago. Many more. I can think of about 28,000 more myself, and I'm small time. Very small.
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UnderR8D

03/16/10 12:21 AM

#170152 RE: steel_curtain #170137

The data from FINRA is accurate as stated...the number stated is the total registered shorts since Aug 2009....I don't believe that the post mentioned that this is what's out there currently as a total...and only stated that every day since that point has short shares being posted...

However in my opinion it is difficult to cover shorts whem ACCUM trends on the chart are heading north..more ACCUM usually means there isn't much selling so covering becomes much more difficult...

Usually a squeeze occurs betweem 85-90% of the float being shorted due to the fact that the MM's will get a letter from our friends at the S E C once they get closer to 100% of the float