Overstock.com Fights Naked Shorting

Quote from vhehn:

you are basing your theory of manipulation on the fact that a few stocks traded down on what you considered good news?
imho ostk is a crappy company with a crappy website that sells overpriced junk. if it werent for the constant hype of it being the next ebay it should trade for <10 bucks based on earnings results i have seen.
i believe shorts do a valuable service in researching the negitive side of companies. without somebody pointing out the negitives company insiders would even more easily be able enrich themselves at the expense of the public. it is much harder to make money shorting than going long and i admire anybody who is able to make it work.
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it sounds as if you lightly dismiss the naked short selling charges. you do understand that no one here questions legal shorting practices?
 
Quote from newtoet:

flytiger, you sound like someone who is desperate to get back to breakeven in a losing long position...did you buy OSTK at 70+?

As far as the CEO - if he spent as much time trying to improve his company and run it properly as he did bitching about short sellers, there would be nothing to worry about as Overstock would be kicking ass.

But he doesn't, and it isn't. They need a new CEO.
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you sound like you desperately need to educate yourself on this case.
 
Quote from ratboy88:

it sounds as if you lightly dismiss the naked short selling charges. you do understand that no one here questions legal shorting practices?
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flyboy has shown no proof that anything illegal happened. he sounds rather paranoid to me. i have followed greenberg for years. he is right most of the time eventually.
 
Here is a fund rebutting an article wrote on CALM by none other than Herb Greenberg. Cal - Maine is an egg producer. They are family run. Patriarch Fred owns some 8mm shares, son in laws, etc work in the company. By January, the stock was 86% short. It was down from $25. At $12, Peter McKay wrote a someone postive article in the WSJ. The stock went straight to six. I 've spoken to them. I warned them that if they don't fight, they'll go to zero. They are just nice people from Mississippi who employ some 200 folks. Their mistake? They went to Wall St. to raise some money at $25. They did pull the deal. Coincidence.? You think Bryne is crazy? How would you like your family business to be treated like this?

By the way, if this fund bought the stock in August of last year, I hope they sold. You couldn't have beaten these guys back then. For you guys arguing OSTK has no fundies, what do you say about this situation.?

Is Herb Greenberg really this good? Can he spot situations that crater like this? How is he drawn to these seemingly miniscule, insignificant situations? Could Bryne be right.? could someone present him with a "white paper" and say, "this one is next?"
As the previous poster said, "fasinating".

http://www.marketthoughts.com/zs20040804.html
 
Quote from flytiger:

Here is a fund rebutting an article wrote on CALM by none other than Herb Greenberg. Cal - Maine is an egg producer. They are family run. Patriarch Fred owns some 8mm shares, son in laws, etc work in the company. By January, the stock was 86% short. It was down from $25. At $12, Peter McKay wrote a someone postive article in the WSJ. The stock went straight to six. I 've spoken to them. I warned them that if they don't fight, they'll go to zero. They are just nice people from Mississippi who employ some 200 folks. Their mistake? They went to Wall St. to raise some money at $25. They did pull the deal. Coincidence.? You think Bryne is crazy? How would you like your family business to be treated like this?

By the way, if this fund bought the stock in August of last year, I hope they sold. You couldn't have beaten these guys back then. For you guys arguing OSTK has no fundies, what do you say about this situation.?

Is Herb Greenberg really this good? Can he spot situations that crater like this? How is he drawn to these seemingly miniscule, insignificant situations? Could Bryne be right.? could someone present him with a "white paper" and say, "this one is next?"
As the previous poster said, "fasinating".

http://www.marketthoughts.com/zs20040804.html
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smart people figure these things out. calm was a news pump based on the atkins craze.

AP
Cal-Maine Foods Slides to 4Q Loss
Monday August 1, 12:55 pm ET
Cal-Maine Foods Falls to Fourth-Quarter Loss From Year-Ago Profit on Egg Oversupply


JACKSON, Miss. (AP) -- Cal-Maine Foods Inc., the nation's largest fresh egg producer, said Monday that it slid to a fiscal fourth-quarter loss from year-ago profit, as waning demand for high-protein, low-carb diets resulted in a glut of egg inventory.


edit: this is interesting. "The author also does not know how Greenberg came up with Cal-Maine's cost of 65 cents for a dozen eggs but again, he misleads his readers when he mentions that the 69 cents per dozen charged by Cal-Maine "puts it barely ahead of Cal-Maine's cost of 65 cents for a dozen."

i was at the store recently. i paid 50 cents a dozen for eggs. how would you like to be a farmer and raise a dozen eggs and then transport them to the store with $3 fuel and then sell them for 50 cents. the box costs close to a dime.
 
Here is Patrick Byrne CNBC piece w/ Ron Insana.

http://www.vmsdigital.com/MyFiles.aspx?Onum=B6AA2C8D-B6D9-4623-B5C0-37B128860FFF 15 minutes. The usual guest gets what......3????????????

To the previous poster, Milberg Weiss is just another cog in the wheel. Journalist, Media, Class action suits.

Pay close attention to the Comment Bryne makes about rank and file at the SEC. I was told the same thing by an SEC beat reporter months ago. that paraphrased, "when they get ahold of a bone, they don't let go........:"
 
In 2001, "the deal.com" listed 60 companies "financed" by LTS. She listed all the similarities, etc. The last part of the article quoted several CEO's whose stock traded a less than three cents, and they lauded Ladenberg. I've never had any doubt that some of the companies officers sold them down the river for payoffs.

All I've ever said is, Naked Short Selling is illegal, and it's being allowed, and then covered up. If Byrne is full of shit, let OSTK go to zero, but in it's own time, in a legal fashion.

How do you folks expect to make a living trading if the only thing that works is to be on Anthony Elgindy's website, or have some operator tip you off????????? You need a fair system, and this one is seriously broken.

I just hope I get a dummy entry on OSTK on Monday. Make that several dummy entries.
 
Quote from vhehn:

flyboy has shown no proof that anything illegal happened. he sounds rather paranoid to me. i have followed greenberg for years. he is right most of the time eventually.
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LOL LOL LOL......... if Greenberg is a crook and in bed with these guys of course he is going to be right "eventually."

flyboy has linked us to volumes of evidence that if you pursue it, unfolds into a level of fraud that reaches into the hiearchy of the SEC !!!! *MY WORDS NOT HIS.

this dovetails beautifully into other arena's that follow these same patterns. people WAKE UP !!!!!!!!!!!!!!!
 
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