Replies to post #134461 on Golkor Inc (GKOR)

[mappo]

BigOwl47 ....... Agree, lets
wait & see.
No matter what happens,
it is a good thing to have those new rules.
At least it will give business a fighting chance.
Have a great weekend Big Owl.

[oregon 1]

Everyone should mark your post. I believe Gump is right and only time will tell. We will see the 1 mil share stop after march 1.

[wshaw14]

BigOwl, the new rules will effect nothing, just like the old rules. The Crooks will rule on the pinkies no matter what. Rules are no good without enforcement and I think the SEC deserves many "chuckles".

[MacCapone]

Interesting to watch, I agree, and you bet I will be looking for it.

Although I am not completely sure we can wholly surmise it was shorts covering if these 1 mil blocks cease after 2-28-11. It still could have been accumulation for an institution that was limited to 5 mil.

[Eagle777]

I can name probably 20 mining/exploration penny stocks that ran up on anticipation of spring/summer/fall drilling results and then sunk like KATX when the results did not hit the homeruns people had piled in for.

If Gump’s bizarre theory was correct, i.e. that the MM’s got caught selling on the way up in the runups from last year and then somehow did not cover/square their books since then and now need to do so, we would be seeing these large block trades going off all across penny land last week.

AND THAT SIMPLY JUST HAS NOT HAPPENED!

As I pointed out several times, it is ridiculous to think that any MM who was on the other side of the rules would square up, by making BIG, BODACIOUS, “HEY LOOK AT WHAT I’M DOING” trades that stick out and scream to be noticed. That explanation should be insulting to anyone with even the least ability to think critically and who also has any real experience in this area.

[Pecuniam]

THIS IS THE KICKER ABOUT KATX AND FINRA TOMORROW!

New FINRA Regulations: should help shorted PINKS and other OTCBB issues starting tomorrow.

Read the following:


There’s 3 new laws gaining attention in the NSS market reform arena: FINRA 4320 goes into effect on 2/28/11. It mandates 13 day buy-ins for open delivery failures FINALLY applying to shares of non-reporting corporations. FINRA 2010-043, also starting on 2/28/11 reinstates the “short sale exempt” (SSE) marking requirements for trade reporting and the OATS system. Those MMs accessing the bona fide MM exemption from executing pre-borrows or “locates” before admittedly naked short sales must now FORMALLY acknowledge the accessing of that universally-abused exemption. Being that these trades are theoretically being made to “inject liquidity” then the excuse to hide the related trade data from the public’s eyes goes out the window. You can’t have it both ways and claim the bona fide MM exemption and later claim that the related trade data needs to be kept secret because it might reveal a “proprietary trading strategy”.

Truly bona fide MMs that are able to legally access that universally-abused exemption cover their naked short position on the next downtick after their short sale when buy side liquidity is in need of being ejected as share prices fall. The 3rd new rule which is in effect now states that the offers and bids that MMs post must be of approximately the same size. No longer can the offers be of 1 million shares and the offsetting bid good for the minimum 5,000 shares.

The verbiage in 4320 is especially well done as it FINALLY puts the clearing firms that aid and abet this crime wave on the spot. With the FFETF, which is made up of 25 different agencies, now on the scene the transparency has increased markedly. You can imagine how critical the lack of transparency is to a crime involving selling nonexistent securities and then refusing to ever deliver that which you sold AFTER being allowed access to the funds of the investor being defrauded.


Here are the links to the rules SR-FINRA-2010-028 and SR-FINRA-2010-043:
Notice the part I marked in bold in the quote above:
"FINRA 4320 goes into effect on 2/28/11. It mandates 13 day buy-ins for open delivery failures FINALLY applying to shares of non-reporting corporations."
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GLTA,

PEC!