What's illegal? Short selling is not illegal. Naked short selling is already a violation of SEC rules, they should just enforce it already and shut up. Percentage of stocks that fail-to-deliver is less than 1% of all shares traded. Of these many are long sales that just don't get settled on T+3. Only firms that can 'legitimately' naked sell are market maker firms. Its already been proven that huge short positions at competing firms were one of the causes for LEH and BST failures. Like eating their own cubs?
Cramer Before and After.
- Thread starter patchie
- Start date
What's illegal? Short selling is not illegal. Naked short selling is already a violation of SEC rules, they should just enforce it already and shut up. Percentage of stocks that fail-to-deliver is less than 1% of all shares traded. Of these many are long sales that just don't get settled on T+3. Only firms that can 'legitimately' naked sell are market maker firms. Its already been proven that huge short positions at competing firms were one of the causes for LEH and BST failures. Like eating their own cubs?
and hedgefunds who want to play. I've confirmed it a hundred times over. I know a guy with a XX platform who told me he could short anythng anytime without a locate. That simple.
A major bd conference call where the head of hedgefund operations said , "if you have a client who wants to short a stock and can't get a locate, you have him call me." Duh. wonder what he meant.
It happens all the time. Don't kid yourself.
A major bd conference call where the head of hedgefund operations said , "if you have a client who wants to short a stock and can't get a locate, you have him call me." Duh. wonder what he meant.
It happens all the time. Don't kid yourself.
With the Feds looking into Pequot and the Feds and SEC looking into SAC and Kyinkos I wonder if Cramer will call these firms out personally.
So far Cramer has been careful to never name names in his rants. He likes to generalize with is TV Speak for grandstanding with no substance. I say if Cramer wants to somehow act like a top cop that he starts by channeling his rants to individual people and firms.
Who are the short sellers he is speaking of? I doubt very much it is the small mom and pop's so who exactly is he ranting about?
Lets see if he is a tiger or a mouse. My bet - the mouse.
So far Cramer has been careful to never name names in his rants. He likes to generalize with is TV Speak for grandstanding with no substance. I say if Cramer wants to somehow act like a top cop that he starts by channeling his rants to individual people and firms.
Who are the short sellers he is speaking of? I doubt very much it is the small mom and pop's so who exactly is he ranting about?
Lets see if he is a tiger or a mouse. My bet - the mouse.