SEC- No More Naked Shorting

[Show-me]

Just spoke to my broker on the phone and he said "we don't know, we are trying to figure it out". Not a good sign.

 

[Gumby]

Just spoke to my broker on the phone and he said "we don't know, we are trying to figure it out". Not a good sign.

Will I be able to trade SDS?

 

[Show-me]

As of now they don't know anything they are pouring over SEC documents to try and figure it out. This is the making of a thermal run away situation. Where you over heat and break down consecutively until it destroys itself.

 

[Gumby]

As of now they don't know anything they are pouring over SEC documents to try and figure it out. This is the making of a thermal run away situation. Where you over heat and break down consecutively until it destroys itself.

Changing the rules mid-way always hurts someone and generally benefits the ones that change the rules.

 

[Show-me]

Gumby,
Your right and the guys that bought these financial are making a mint off of the shorts. The short covering rally is going to be absolutely huge and then I think the longs will turn it around and sell it off.

All this is is Bernakey and Paulson sticking it to the shorts. They have done it a number of times this past year, right before expiration day. Once they did a emergency rate cut right before the expiration day in premarket.

They are out to kill the shorts, never mind the companies that are being shorted deserve it. It is about transferring money from the shorts to the longs and the long selling before the day is over.

 

[Gumby]

Gumby,
Your right and the guys that bought these financial are making a mint off of the shorts. The short covering rally is going to be absolutely huge and then I think the longs will turn it around and sell it off.

All this is is Bernakey and Paulson sticking it to the shorts. They have done it a number of times this past year, right before expiration day. Once they did a emergency rate cut right before the expiration day in premarket.

They are out to kill the shorts, never mind the companies that are being shorted deserve it. It is about transferring money from the shorts to the longs and the long selling before the day is over.

You are 100% correct. With options expiring today....the shorts have no choice except to buy this morning. Look for a huge selloff this PM. Billions to be made at shorts expense.

The shorts are trapped. Can't even trade SKF on an options Friday. This looks like a class action suit to me. The government loses and the taxpayers foot the bill.

 

[Gumby]

Will I be able to trade SDS?

SDS is trading but the percentage doesn't add up. Must be because of the change in rules of the shorting of financials.

S&P up 2.5% SDS down 6.3%

 

[Gumby]

Looks like an insider conspiracy to me:

No shorting of financials on option Friday.
The insiders are smiling all the way to the Bank. Shorts are Trapped big time.

More info

 

[Show-me]

Just got off the phone with my ST broker and SKF is back in business.

 

[tsptalk]

Cool. Are you going to short it?

Short the short fund. Two negatives do make a positive. Ebb was doing that with SDS (short it). I wondered why he didn't just buy SSO instead.

 

[Gumby]

Just got off the phone with my ST broker and SKF is back in business.

Down 16% so far. I don't have stones enough to touch this one today.

 

[Show-me]

I'm out of trades, Tom. I need to wait for my 3 day settlement as I traded in and out within one day. ST will not be happy with me if I do not take a break.

If this pig (financial sector) goes higher I will consider it. Especially when the ban is lifted.

 

[Show-me]

My other two accounts are lock up too.

 

[Show-me]

http://www.sec.gov/rules/other/2008/34-58592.pdf

 

[Show-me]

ProShares Announcement on SKF and SEF

< Back to News

PRESS RELEASE



Bethesda, MD, September 19, 2008 – Due to the emergency action announced by the Securities and Exchange Commission on September 18, 2008, temporarily prohibiting short sales of shares of certain financial companies, Short Financials ProShares (SEF) and UltraShort Financials ProShares (SKF) are not expected to accept orders from Authorized Participants to create shares until further notice. Unless notified otherwise, shares will be available for redemption by Authorized Participants as normal. The shares of these ProShares are expected to trade in the financial markets today, but may trade at prices that are not in line with their intraday indicative values.



Media contact:
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com

Sep 19, 2008

 

[Silverbird]

Sigh, the problem is naked shorting, not all shorting. Don't they know streaking is illegal and wearing shorts is ok, especially if the weather's hot? :suspicious:

 

[Show-me]

The main point IMO is that if the companies stock is strong then the shorting makes no difference. Why punish the shorts because the companies have failed miserably to product a strong company with a strong reputation and a stock price that reflects that.

This is nothing more that covering the asses of companies that screwed up. And, the executives and board members are probably all giving each other high fives and pats on the back because they are successfully about to transfer all of the bad paper to the backs of the taxpayers.

BONUSES ALL AROUND!!!!

 

[Show-me]

I'm slowly becoming a full fledge Democrat when it comes to big business.

Privatized profits and socialized bail outs. Brilliant!

 

[James48843]

I'm slowly becoming a full fledge Democrat when it comes to big business.

Privatized profits and socialized bail outs. Brilliant!

Aaahhh.

Welcome, Grasshopper.

Snatch this pebble from my hand.

When you can, it is time for you to go....

 

[Silverbird]

Uh...the Democrats? How about unfettered Business is great, and get rid of regulations, then turn around and close the Shorting barn? That's the Admin, and they ain't Democrats.