Uptick is coming back.. shorts are covering today..

I know freak knows this, but short sellers are manipulating big time. They are shitting on the rules about actually borrowing the stock to sell.
 
Topspin said:
I know freak knows this, but short sellers are manipulating big time. They are shitting on the rules about actually borrowing the stock to sell.
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I agree completely that they have been manipulating the markets. Though I dont know if I would go so far as to say they are naked short selling. It isnt that hard to track if someone hasn't borrowed the shares and it is highly illegal to be naked and short.

The problem is that many of these shares are made available to be borrowed. The ease of borrowing shares is amazing right now given what has been going on.
 
yeah I saw something on CNBC long before the crisis a study was showing something in the order of 30 to 40 % were illegally shorting. Not sure if that means Naked
 
Topspin said:
yeah I saw something on CNBC long before the crisis a study was showing something in the order of 30 to 40 % were illegally shorting. Not sure if that means Naked
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Yes, it means naked (selling short without having borrowed the stock).

I had not seen those numbers... I have a hard time believing that many people are either corrupt or ignorant enough to short naked, but given all that has happened I guess it wouldn't shock me too much.
 
Superfreak said:
I agree completely that they have been manipulating the markets. Though I dont know if I would go so far as to say they are naked short selling. It isnt that hard to track if someone hasn't borrowed the shares and it is highly illegal to be naked and short.

The problem is that many of these shares are made available to be borrowed. The ease of borrowing shares is amazing right now given what has been going on.
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i always set a sell price of like 100 a share on my stocks to keep them from being used.
 
The uptick rule is different from the ban on "naked" short selling that was imposed temporarily last summer to prevent the downward spiral in financial stocks. The ban, which was lifted last fall, required investors to actually borrow shares of a stock they were shorting. This prevented "naked" selling, in which investors could put unlimited selling pressure on a stock.

I think naked shorting should be permanently banned
 
Topspin said:
The uptick rule is different from the ban on "naked" short selling that was imposed temporarily last summer to prevent the downward spiral in financial stocks. The ban, which was lifted last fall, required investors to actually borrow shares of a stock they were shorting. This prevented "naked" selling, in which investors could put unlimited selling pressure on a stock.

I think naked shorting should be permanently banned
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well its already a rule isnt it? just not enforced and there are loop holes in reporting for hedge funds. They just need to regulate hedge funds. They should be required to report the same way as regular funds.
 
lol that was funny heap.
Chap it's a rule that's so not inforced they had to announce when they would suspend the non-enforcement.
Put some regulators/accounts with some balls in charge of kicking the shorts/hedge's ass.
 
Chapdog said:
so the rally held today.. I really do think its mainly about the uptick rule news.
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yeah, it held and actually picked up steam in the last hour. I agree it was in large part due to short covering, the question is .... is that enough for a sustained rally?

The citi news still amuses me. If they were profitable in Jan and Feb... why did they need that last round of financing? Hmmm.. I wonder
 
Topspin said:
The uptick rule is different from the ban on "naked" short selling that was imposed temporarily last summer to prevent the downward spiral in financial stocks. The ban, which was lifted last fall, required investors to actually borrow shares of a stock they were shorting. This prevented "naked" selling, in which investors could put unlimited selling pressure on a stock.

I think naked shorting should be permanently banned
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Naked short selling has ALWAYS been illegal. There was no temporary ban.

The ban you are thinking of was on ALL short selling within certain financials.
 
Chapdog said:
well its already a rule isnt it? just not enforced and there are loop holes in reporting for hedge funds. They just need to regulate hedge funds. They should be required to report the same way as regular funds.
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Agreed.... that is the second thing they need to do.
 
Dungheap said:
I think the market loved Obama's education plan.
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LOL, its so obvious to any trader knowledgeable about transactions on the stock market that no enforcement of naked shorting and or borrowing of shares to short by institutions coupled with no uptick rule was the catalyst to much of this oversold market.

I tried to buy 5000 shares of a stock beaten down 90% the other day.. it took over 30 transactions to fill my order. Madness. Tho the volume was still 75% of the average. That stock happens to have a 22% short interest which is in itself amazing.
 
Day three.. and yahoo finance thinks the market is up because of
"Market Extends Rally After GE Rating Cut Not as Deep as Expected"

Guess thats what you get when journalism majors are writing the business news.
 
Chapdog said:
Day three.. and yahoo finance thinks the market is up because of
"Market Extends Rally After GE Rating Cut Not as Deep as Expected"

Guess thats what you get when journalism majors are writing the business news.
Click to expand...


Tell me about it. Obviously Obama signing the Omnibus Budget Bill is causing this rally.
 
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