Should Canada join the fight for protecting markets from illegal Naked Short Selling CDNX Venture Stock Exchange index will go at least 50% overnight. Markets are so illiquid that the shorts will be evaporated.
"Securities Regulators and State Attorney Generals Crack Down On Naked and Manipulative Short Selling
Dear Friends,
Let’s review the highlights of this important day:
Securities Regulators and State Attorney Generals came down hard on the practice of naked and/or manipulative short selling.
There was emphasis made on legal and illegal shorts that have had a habit of speaking poorly about situations they are short to others.
London followed suit to a reasonable but hopeful degree.
The Toronto Senior Exchange remains silent on the subject. If the TSX does not declare its participation by next week many companies who are suffering from these malicious actions, particularly those with dual Canadian and US exchange listings, will delist. Toronto listings will move to the London Stock Exchange while remaining with their AMEX, soon to be NYSE, listing facility. That strategy would maintain dual nationality listings.
A form of Resurrection Trust much touted today has no application to a derivative meltdown. Simply stated, it will not work. Those that favor this idea demonstrate their total lack of knowledge concerning what OTC derivatives are.
The stock market was impressed by the worthless concept of a Resurrection Trust plus the probability of naked short covering.
If the SEC really has zero tolerance for naked and/or manipulative short selling it is too late to borrow shares.
Gold did its usual major round number dance today. The dollar got a boost from the actions of US equities.
Respectfully yours, Jim"
Let’s review the highlights of this important day:
Securities Regulators and State Attorney Generals came down hard on the practice of naked and/or manipulative short selling.
There was emphasis made on legal and illegal shorts that have had a habit of speaking poorly about situations they are short to others.
London followed suit to a reasonable but hopeful degree.
The Toronto Senior Exchange remains silent on the subject. If the TSX does not declare its participation by next week many companies who are suffering from these malicious actions, particularly those with dual Canadian and US exchange listings, will delist. Toronto listings will move to the London Stock Exchange while remaining with their AMEX, soon to be NYSE, listing facility. That strategy would maintain dual nationality listings.
A form of Resurrection Trust much touted today has no application to a derivative meltdown. Simply stated, it will not work. Those that favor this idea demonstrate their total lack of knowledge concerning what OTC derivatives are.
The stock market was impressed by the worthless concept of a Resurrection Trust plus the probability of naked short covering.
If the SEC really has zero tolerance for naked and/or manipulative short selling it is too late to borrow shares.
Gold did its usual major round number dance today. The dollar got a boost from the actions of US equities.
Respectfully yours, Jim"
1 comment:
Abolish All Shorting is the only way to be sure naked shorting cannot continue. All shorts start out naked anyway (until T+3) so its hard to tell the difference. Publishing fails takes many months.
Naked shorts create fake shares but legal shorting also has a dilutive effect because there is a new formal owner but the interest of the old owner (or any associated fund unitholders - you and me) has not been entirely extinguished.
Help abolish shorting at
http://www.petitionspot.com/petitions/AbolishShorting
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