Replies to post #1462 on Sierra Resource Group Inc. (fka SIRG)

[H2211C]

So they are trying to create panic by selling those shares in order to pick more up at a cheaper price??

[lmcat]

The MMs are experts at manipulation of the markets. We get our shares and they just delay delivery of the next shares they sold and roll them over and over. Kinda like a Ponzi scheme but using shares instead of money.

"Close-out" Requirement: Regulation SHO imposes additional delivery requirements on broker-dealers for securities in which there are a relatively substantial number of extended delivery failures at a registered clearing agency7 ("threshold securities"). For instance, with limited exception, Regulation SHO requires brokers and dealers that are participants of a registered clearing agency8 to take action to "close-out" failure-to-deliver positions ("open fails") in threshold securities that have persisted for 13 consecutive settlement days.

Closing out requires the broker or dealer to purchase securities of like kind and quantity. Until the position is closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker) may not effect further short sales in that threshold security without borrowing or entering into a bona fide agreement to borrow the security (known as the "pre-borrowing" requirement).