Replies to post #30060 on China MediaExpress Holdings, Inc. (fka CCME)

[Drexion2004]

Your welcome to call TDAmeritrade, Etrade, ThinkOrSwim, IB, etc, and speak to their brokers. I have been told by each of those that they will be forcing all those nakeds to cover the first day. They only allowed them to establish the naked positions because they had puts that would have expired due to the halt -- A few brokers even required people to sign documentation to the effect that they would be forced to cover in the first day before letting them exercise their puts.

Anyhow, it does not matter to me personally. I'm out of the CCME picture with pretty much net zero exposure during this halt, so I have no real skin in the game at this time.

-Fernando

[Ben549]

Blue, if you google "naked shorting" you'll find several good articles, even scholarly stuff, about how it works. At the open, naked shorts will be known as owning, Failure To Deliver (FTD) shares, and according to NAS rules, will be forced to cover immeadiately by their brokerages. They have no choice whatever...