OSTK ceo

The Post will report in the morning that the 439mm are from failed hedge funds. This would be similar to the ENWV thing, where there is some clearing out there with 4mm shares of a stock the client bought at $25, going by the Lehman problem, that now trades at $13. There can't be any equity there, or the hedgie wouldn't have blown town.

Now ask yourselves., what "receivables" would hedgies leave behind. A couch that didn't match the curtains? It wouldn't be long purchases because they would have been liquidated. They are naked shorts. How do you get 439mm? If you're short millions of a security, is it fair to use the offer? How much do you get off the offer?

Look At Dr. Byrnes story on his dad's 200m shares. If the broker bought in, does he get the offer? This is a huge problem for all of us. I'm sure accounts are pouring out of Refco. But, it's their doing. Now, if we can get Dr. Bryne to force a buy in of 200m shares it'll be a body blow. Can you imagine? Driving a stock down like this while not executing a director's order?/ What gall.

Good luck everybody. I told you these guys were tough. I'm even shocked, and I've watched the act for years.
 
http://www.siliconinvestor.com/readmsg.aspx?msgid=16469717

Refco's real problem. They are the dumping grounds for Badian/s folly. Thomas is visiting my money in Switerland; he fled after be indicted in Dec '03. My bet is that Bennett, after SHO grandfathering , thought these would all go to zero.

Right now, I'm trying to get a copy of the article listing 60 stocks.

The ones that survived are tremendous prospects for geometric moves when the forensic auditors get in here. Staci had a baby and retired, so I've got to go elsewhere to get the list. What does this have to do w/OSTK"?

If you go back and read the posts, you'll see I defended Byrne. I believe I said I'd heard it all before, all except the Sith Lord. I don't know he was thinking of, but I know what I was thinking of. Why is Icahn involved in LTS? How much money is enough? In this SDNA case, the two brokers they refer to worked at Refco. There aare literally hundreds of company; this is the only one being investigated by the DOJ. They aren't investigating SDNA. They are investigating the manipulation and manipulators.
That's what the Wells notice is about. Maggio didn't supervise.

Gentlemen. You may think I am crazy. but I"ve been forced to live this for years, and I didn't give up. I remind you. Payback is a bitch. This is a tragedy, It portends of dark clouds over Wall St. for years. Morgan can't even deliver an 8mm dollar order to the rightful owner. Great business we have here.
 
Quote from flytiger:

http://www.siliconinvestor.com/readmsg.aspx?msgid=16469717

Refco's real problem. They are the dumping grounds for Badian/s folly. Thomas is visiting my money in Switerland; he fled after be indicted in Dec '03. My bet is that Bennett, after SHO grandfathering , thought these would all go to zero.

Right now, I'm trying to get a copy of the article listing 60 stocks.

The ones that survived are tremendous prospects for geometric moves when the forensic auditors get in here. Staci had a baby and retired, so I've got to go elsewhere to get the list. What does this have to do w/OSTK"?

If you go back and read the posts, you'll see I defended Byrne. I believe I said I'd heard it all before, all except the Sith Lord. I don't know he was thinking of, but I know what I was thinking of. Why is Icahn involved in LTS? How much money is enough? In this SDNA case, the two brokers they refer to worked at Refco. There aare literally hundreds of company; this is the only one being investigated by the DOJ. They aren't investigating SDNA. They are investigating the manipulation and manipulators.
That's what the Wells notice is about. Maggio didn't supervise.

Gentlemen. You may think I am crazy. but I"ve been forced to live this for years, and I didn't give up. I remind you. Payback is a bitch. This is a tragedy, It portends of dark clouds over Wall St. for years. Morgan can't even deliver an 8mm dollar order to the rightful owner. Great business we have here.
More...

I'm still following this story, and I still find it very interesting, but I gotta tell you, I'm just not smart enough to decipher some of your posts.... Staci?? Maggio??

- The New Guy
 
Quote from thenewguy:

I'm still following this story, and I still find it very interesting, but I gotta tell you, I'm just not smart enough to decipher some of your posts.... Staci?? Maggio??

- The New Guy
More...

Don't try...
You really have to be smoking the same stuff he does :)
 
Quote from hedgeyourbets:

Don't try...
You really have to be smoking the same stuff he does :)
More...

true, but I always look forward to his posts

fly - i don't understand much of what you are talking about but for me its a great read and very interesting

just wanted to say thanks for keeping this journal updated

glty
 
You guys are a tough audience. You didn't hear Insana talk about Sedona yesterday???? Do what you want to do, but the market has finally caught the bird flu.

Let's see if Patrick makes Insana' s show today. That should be interesting.

And there are so many things happening that can't be talked about, but this is now coming to the forefront of the government agencies, all of them, that ignored us up to now.

Some major firms are in some deep, deep trouble. And so are we. Somebody asked me yesterday how it ends. It ends like Katrina. Bush goes to NYC w/bags of cash.

By the way, the Republicans, who wouldn't help us, now want to get into Refco to get Spitzer. The Dems wouldn't help us either. Some day I'll tell you about my conversation with Barney Frank. What a fucking worm.
 
Quote from hedgeyourbets:

Don't try...
You really have to be smoking the same stuff he does :)
More...

Yeah, but where to find it? ;)

I looked into this story when it first came across my radar, and I was surprised how obvious this situation is (to me anyway, you may come to a different conclusion). I haven't had enough time to follow it, but flytiger does a good job of keeping me on top of the important issues. Recently tho, I have become a little lost...

- The New Guy
 
The stocks at Refco's dead letter office are mostly OTCBB stocks. they didn't used to be, but it's amazing what happens when you pour 50 -100mm naked shorts on the market. Then, the companies can't get funding. That's why Sedona's lawsuit is for 2.66 Billion. They make a case for the business they lost because of the stock price.

A good start for you, though, is the listed stocks in the SHO list. Briefing .com just picked up DECK and noted it had a 60%short postion. It's on the SHO list, so add 1/2 of 1% of the float as a minimum on top of that.

You guys did see Refco tell dtcc is was liquidating all short and long prop and customer postions??? That could spill over to OSTK, DECK, etc. Go to buyins.net.
 
Every pundit in America was calling for the market to get a nice oversold bounce this morning. It lasted all of twenty minutes.

I've looked at most every article on Refco. Each one seems to quote some market participant as saying....." this happened so fast. I can't believe it happened so fast."

If you are attempting to make a living trading., you nee d to think outside the box. Well, you at least need to think.

The market is talking to ya daddy! THIS TIME IT'S DIFFERENT.

I hope you younger guys, the ones who survive, understand you have to understand prosperity and fair markets are not a given. You have to take a stand. I took mine. Think what you will.

I'd like to shove those half - glasses up Phil's ass. But, soon, they'll be no room for them.
 
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