Breaking News: SEC FINALLY Bans Naked Short Selling - Flytiger Vindicated

Hydroblunt · Sep 17, 2008

Quote from scriabinop23:

Failures? $18 stock with 500m market cap. The guy has a mission and stuck to his guns. That is worthwhile. Are you so much more successful?

Hmmm, declining revenues, growing net losses (never had a profit), growing debt, almost no net equity? Wow, what a formula to success, run a crap company by complaining about shorters.

Considering the boost his dad gave him, PB is a total joke. His life was handed to him on a silver platter and this is his greatest accomplishment?

Retief · Sep 17, 2008

From the Investors Village OSTK board: What's the difference between OSTK and an investment bank? OSTK has a viable business model.

nitro · Sep 17, 2008

How does this rule affect ETFs? How on earth are those guys (ETF MMs) supposed to hedge?

This is crazy.

nitro

bone · Sep 17, 2008

I am not a short-term stock trader, so let me ask a silly question: how will this affect intraday traders and scalpers in the equities market?

mxjones · Sep 17, 2008

Quote from bone:

I am not a short-term stock trader, so let me ask a silly question: how will this affect intraday traders and scalpers in the equities market?

I think it has little to no affect on most retail traders. Most brokers provide/keep/maintain a list of stocks available to short, and publish an "Easy to borrow" list of some sort. If you could short it yesterday, chances are you can short it tomorrow.

bone · Sep 17, 2008

So, if I wanted to short stock XYZ this morning, and it was not listed as a restriction on my B/D's short list, I could buy the short back this afternoon - no regulatory problems?

Angrycat · Sep 17, 2008

Quote from scriabinop23:

Are you so much more successful?

Yes.

And like most successful people, I didn't blame my failures on scapegoats.

jficquette · Sep 17, 2008

Quote from RedDuke:

And they are going to enforce it how?

Exactly, that is the whole problem. No way to enforce it because no central clearing mechanism to ensure stock is actually borrowed.

John

Humpy · Sep 17, 2008

You US guys can always trade in Europe - no problems here.
You can even move over here I expect. The Mediterranean has a better climate than Florida too

TM_Direct · Sep 17, 2008

Chairman Cox may go down as the most inept SEC commish.

I like how he says startng Thursday you will no t be able to short these stocks....HELLLLLLO!!!! what do you think everyone is doing today????

LEH goes belly up and MER get bought over the weekend with help from the fed....where's Cox?

Bear gets bailed out and he learns about it on TV????

...Although he came in with stong support of 'barclays buying the accounts of Lehman"....Sheesh