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News Focus
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bar1080

01/04/12 1:29 PM

#40346 RE: Seminole Red #40345

LOL! About $400 shorted with "One Day to Cover."

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Threeflight

01/04/12 1:43 PM

#40351 RE: Seminole Red #40345

Yes this jives with what I said last month but I think it was glossed over by some. No one is shorting the stock. And if they are, they absolutely 100% have to cover the same day. The reason why short term (under 3 days) short stats are skewed and appearing higher is because a year or so ago the sec changed the way that buys and sells are reported. So there are days that you could have 5 M shares traded, and it will show the same day that 90% of those shares were short. But that is only an accounting/clerical stat used to record trades BEFORE they are settled. Once they are settled after 3 trading days, the real short number appears, which most of the time is close to 0.
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conix

01/04/12 1:57 PM

#40356 RE: Seminole Red #40345

There is NO way you can trust short interest info on an OTCBB or Pinkie. No way. There is no real reporting of short sales. And no real monitoring. That has always been a problem. Naked shorting happens...and they do not report they are shorting naked.

It would be like telling a bank robber that you should not take money that does not belong to you--but if you do anyway--please report how much you took.

LOL