Byrne Takes Full Page WSJ Ad, Taunts Stevie

[flytiger]

Quote from billyjoerob:

Every short creates a corresponding long. So there are never more shorts than longs.

Every naked short creates a corresponding long. So, you basically have thugs issuing shares not registered with the SEC. Sell some restricted stock yourself, and see what that gets you. But it's ok for firms to do it?

And tell me about MM's. Not the same thing. We all know what is supposed to happen. I'm telling you what does happen. The GS / OSTK lawsuit tells you what happens. So, it's not arguable anymore. Never was, but I understand the street talking their book.

Know what? Tell the Warden. I don't care.

 

[MoreLeverage]

Quote from billyjoerob:

Every short creates a corresponding long. So there are never more shorts than longs.

Right, so if there are 100 shares issued, now each short sale results in an extra short and an extra long. So you could have 200 long and -100 short, or 300 long -200 short or whatever, as long as it adds up to 100.

My point is that the short magnitude seems like it could be big or small relative to some other fixed number, like the shares outstanding or the float.

@CalV : I admit I don't understand the answer about the DTC tracking every single share uniquely. They don't actually do that, do they?

 

[CalVolibrator]

of course they do track every individual share. The problem lies with their enforcement. They are a slave to the guys who pay them which is the securities industry. That is the problem I see. The problem does not lie with those who "abuse" legal loopholes. If the government/states stop persecuting murder then you will have a Wild West. When you look at the big picture who is to blame? The gunslinger? I disagree.

The funny thing is with a lot of morons who are totally hypocritical. They have no issue to abuse loopholes themselves as long as it benefits themselves but turn into cry babies when others do. They have huge problems going on the street to demonstrate against human rights abuses by the government re Guantanamo and countless other "incidents" because it does not concern them. As long as their safety is said to be ensured they have no issue to look away when their own government is invading and killing the rest of the world but they have huge issues with short sellers when their small 5k trading accounts and meager returns are endangered. Funny world!!!

Quote from MoreLeverage:

Right, so if there are 100 shares issued, now each short sale results in an extra short and an extra long. So you could have 200 long and -100 short, or 300 long -200 short or whatever, as long as it adds up to 100.

My point is that the short magnitude seems like it could be big or small relative to some other fixed number, like the shares outstanding or the float.

@CalV : I admit I don't understand the answer about the DTC tracking every single share uniquely. They don't actually do that, do they?

 

[flytiger]

Quote from CalVolibrator:

of course they do track every individual share. The problem lies with their enforcement. They are a slave to the guys who pay them which is the securities industry. That is the problem I see. The problem does not lie with those who "abuse" legal loopholes. If the government/states stop persecuting murder then you will have a Wild West. When you look at the big picture who is to blame? The gunslinger? I disagree.

The funny thing is with a lot of morons who are totally hypocritical. They have no issue to abuse loopholes themselves as long as it benefits themselves but turn into cry babies when others do. They have huge problems going on the street to demonstrate against human rights abuses by the government re Guantanamo and countless other "incidents" because it does not concern them. As long as their safety is said to be ensured they have no issue to look away when their own government is invading and killing the rest of the world but they have huge issues with short sellers when their small 5k trading accounts and meager returns are endangered. Funny world!!!

Morons. Everyone who doesn't see it your way...... Enforcement? Agree. I do not abuse loopholes, I don't do things just to benefit me. 6000 companies are gone, naked shorting. You'll argue the number. It's true. So, say 3000 for kicks. How many jobs is that? How many lives? So you can have a Ferrari? Uh uh. It's got to end. Everybody play by the (same) rules. Then, we'll see who's got the biggest pair. But your world is filled with pretenders who'll stoop at nothing to win. 1000 unemployed at SAC? Good. Let them taste the bitter.

 

[sprstpd]

Quote from flytiger:

1000 unemployed at SAC? Good. Let them taste the bitter.

And what does SAC have to do with this?

 

[piezoe]

Quote from CalVolibrator:

of course they do track every individual share. The problem lies with their enforcement. They are a slave to the guys who pay them which is the securities industry. That is the problem I see. The problem does not lie with those who "abuse" legal loopholes. If the government/states stop persecuting murder then you will have a Wild West. When you look at the big picture who is to blame? The gunslinger? I disagree.

The funny thing is with a lot of morons who are totally hypocritical. They have no issue to abuse loopholes themselves as long as it benefits themselves but turn into cry babies when others do. They have huge problems going on the street to demonstrate against human rights abuses by the government re Guantanamo and countless other "incidents" because it does not concern them. As long as their safety is said to be ensured they have no issue to look away when their own government is invading and killing the rest of the world but they have huge issues with short sellers when their small 5k trading accounts and meager returns are endangered. Funny world!!!

Naked shorting is not taking advantage of a "legal loophole." I's breaking a Reg and getting away with it. It is not a trivial matter. The Reg is there for a very good reason. There is no loophole, just poor enforcement. I doubt if fines will be very effective, but a little jail time would probably put an end to it.

 

[piezoe]

Quote from MoreLeverage:

... so if there are 100 shares issued, now each short sale results in an extra short and an extra long. So you could have 200 long and -100 short, or 300 long -200 short or whatever, as long as it adds up to 100.

My point is that the short magnitude seems like it could be big or small relative to some other fixed number, like the shares outstanding or the float.

If you have 100 shares issued the maximum number that can be sold short legally is 100. The maximum number that can be bought long is 200 if all 100 issued shares are sold short. You can't have 300 bought long and 200 sold short without creating 100 fictitious shares by selling 100 non-existent shares naked short. The total number of shares sold short can not legally exceed the number of shares issued.

Even when this latter condition is met, however, many of the shares sold short can be naked short without being detected as such when you have cooperation of unscrupulous market participants. There is a way, of course, of keeping an accurate tally.