EIGH facts posted here for folks to read through....
so, the company states that "...29,581,931 common 8000inc
shares, bought and held in trading accounts, are yet to be allocated to the various market makers and or brokerages..."
nearing 29.6 MILLION shares unaccounted for....hmmmm, and that's just a sample audit, not the full audit (per the PR again)
lets just do some simple math here, shall we? that sample audit was for the dates between Aug 22 and Sept 30. so I did some easy addition for us all. the TOTAL volume during that time period was approx 62.5 million shares (this is an estimated total not exact, I used rounded valued from etrade charting). that's every single day added up at 28 trading days total. simple division puts the missing shares at almost 50% of the total volume for that time period. WOW! (62.5 million shares / 2 = 31.25 million shares.... only 1.65 million shares more than the total missing count)
but I decided to take it a step further....I went ahead and totaled up those daily FINRA short counts (that do not matter LOL). bearing in mind those numbers include shorted shares as well as covered shares. before we go on, a little clarification there... each time a share is shorted, it gets added to the daily short volume. each time a share is covered (even that same share shorted), it too gets added to the daily short volume. in a perfect world, the ideal naked short volume shouldn't exceed 50% of the total volume in any given day. presuming 3 days to cover a short position there should be NO 3 day time period where the short volume is continually exceeding 50% of the total volume. as we are ALL well aware, that was taking place on a routine basis for EIGH throughout that time period. in fact, based on my basic math skills, I believe that 21 of the 28 trading days had 50% or more of the days total volume as short volume. (please correct me if I am wrong here) on top of that, I am seeing long spans of days like that....such as 8/25, 8/26, 8/27, 8/30, 8/31, 9/1, 9/2, and 9/3, all days where the short volume was greater than 50% of the total shares traded for that day (sometimes excessively greater). that's 8 consecutive days of more short volume than 50% of the total volume for that day. I could go on, but I digress....back to the initial point at hand...
with all that said, I also totaled up the entire short volume for Aug 22-Sept 30 and came up with just under 40.4 million shares. so almost 29.6 mil shares are "yet to be allocated to the various market makers and or brokerages" and that's about 10mil shares shy of the entire 'short interest' for that time period.
ok ok, lets presume also that 50% of those 40.4 million shares were 'covered' positions....since we all know that naked short selling doesn't exist (LMBO)....that leaves 20.2 million shares short for that time period, and 20.2 million covered.
then simply ask yourself...... why, oh why would there be "29,581,931 common 8000inc
shares, bought and held in trading accounts", that are "yet to be allocated to the
various market makers and or brokerages."
oh, duh....cause naked short selling DOES exist....even though its illegal....
sigh....
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