CGFIA-The Flotilla has over 1 Billion Shares
If as many as possible set your shares to sell over $1 than the MMs can not borrow them for shorting.
And if you have a Margin acct you have to tell your broker that you do not want your shares to be borrowed for shorting, This after you set your shares to sell over $1
"Holding the shares is one thing but a MM's can use your shares legally if you don't lock them yourself.
"If everybody put a sell over 1.00 it would speed up the process as once a trade order is in the MM can't touch them shares and sell them short as they are already binding.
"Not putting in stops also helps on the low end as the MM can see those shares down there and will whack the bid enough on shorted shares to pick the stops up.
"The MM knows he can make money shorting to the stop.
"If we all lifted any stop outs and put a sell order in at over $1 that would seriously take quite a bit of shares out of play. The MM can than see the potential when sells are adding up in the dollar ranges.
"Once the order is in, it is against the law for the MM to touch those shares and freely trade them but if there is nothing pending on shares, the MM can just about do whatever he wants. When we lock the shares as shareholders the MM's won't gamble as much shorting shares as he may not be able to replace them fast enough on a significant bounce.
What this means to us in CGFIA is, based on MT's flotilla count we're somewhere over a billion shares. If everyone put a sell order at over $1.00 on their entire position, it would lock up those shares so MMs could not use them to manipulate the price.
Don't see a down side to doing this except one has to cancel or modify that sell order to sell at a lower price - and if one keeps an eye on things, that's easy enough. Even us people in Zecco who won't let us sell without a physical transfer of paper costing between $200 and $700 per trade, well, if it sells for a dollar, I won't care much about $700.
I JUST DID WITH TDA
GO CGFIA
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