NOPE ... the DTC is not allowing new positions, only the closing of old Fails. So once this brief window opens and closes we shouldn't hear anything more about unresolved mirage short positions on RCCH. lolol jmo
I agree, the longs may need to be careful about not selling too fast. Another short may take place again. Its after that short all may break loose and the real covering begins. IMO
Question to all: What will the DTC Lift accomplish and what will it not allow?
I have a feeling most of us do not understand what the temporary DTC chill lift really means.
Can someone clearly define what "Aged Fails" really means? I think is applies to transactions that the participants executed on these shares AFTER the DTC Chill went into effect. So DTC is giving them a chance to clear those up.
Will transaction such as NSS or whatever that took place before the Chill even be eligible? I doubt it. So short covering may not be possible in the time slot. At least those that were shorted through the participants (brokers) effected by the DTC chill. This action has nothing to do with those brokers who do/did not use DTC.
Also I do not think this DTC lift means the DTC will allow new transactions to take place. As this action is meant to clean up aged fails not to lift the Chill for business as usual. Since the chill goes back into effect as soon as this cleanup period is over. That is main reason I do not think DTC will be clearing new buy sell activity during the lift.
So all this short covering expectations may be bogus and not even possible through DTC.
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