Replies to post #1422 on The Cork Board

[the cork]

NEW S.E.C. RULING - Re: Market Makers

(special thanks to BurrTim)

As published in Reuter's two (2) days ago :

Market Makers are going to be forced, by the SEC, to confine their "Short Interest" on All Exchanges to be within 10% of the current Stock Price. If the "Short Interest" is Outside the 10% Envelope, the Market Maker is going to be Forced, by the SEC, to Cover Their Short !

This rule is going to be Monitored by each Exchange and Monitored, Full Time, by the SEC. ! !

This ruling is completed and just needs the vote of the seven(7) member Board at the SEC. The SEC Chairman stated that she did not see Any Problem with this Ruling PASSING with at least a 5 to 7 minimum vote. The SEC is supposed to vote on this Ruling at their Next Meeting !

[the cork]

Definitely a step the right direction. I seem to recall reading or posting something similar not too long ago.

That means the abuse is limited to 10% per day. It will take longer to screw a company and it's shareholders, but perhaps the SOB's can be content with limiting their ill gotten gains to 20% at a time.

GLTA !!