Quote from KeithOmalley:
so how will things change monday for us day traders? will anything be diffrent?
Look at the moves in the 19 stocks today. Then, look at TASR, OSTK.
Check out Regsho, and pick a couple of the biggest stocks. Check the charts. Then, when it really breaks, and it won't be long, make yourself one of those ten baggers. I know where a lot of the pennies are. But that's not for this board. That's where the action is and will be. But you'll do fine with some of the listed stuff.
As far as how does it affect you, think about it. Borrows are tough. Up is the easiest path. Plus, you 've got the Feds in the Brokerage Firms already. And the Hedgies are whores. They'll turn on each other. If they know a competitor has a big fail and there's a buy in coming, they're going to hose him like a prom Queen. Have at it.
Regsho.com is Tabaccos' site. He was on TV yesterday. It's information is good, and easy to access.
Oh, remember. Anything before 1/5/05 is 'grandfathered' and doesn't show up on SHO. BUT!!!! That doesn't mean it 's not naked shorted to death, and that the fails exist. They attempt to drive them to zero. When they don't, you get a CROX or Jones Soda. So, if you see a stock is "heavily shorted", or , if the reported interest is a crazy number and the stock isn't on SHO, put it on a suspect list. It probably has a big percentage, or even mulitple of, it's float in failed securities.
Good luck.