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[QUOTE]Originally posted by Mr. Berbician Seventy Seven: [QB] Check SEC site section on SHORT regulations, worth to learn a bit of it. Basically the registrant notifies the Company's stock market (OTCBB is now NASDAQ) representative, and that one, for each broker (or MM if you prefer) provides the exact short amount they have to cover. This is strictly mandatory. For instance, if VERT or ARCA or any other (usually small players only, the big ones can't afford related risks) does not cover by the end of the SEC agreed regulation period, first the broker/MM LOOSE their license (they loose their all business since w/o license they cannot trade anything any more on ANY market) and second they have to buy the shares anyway, with an additional fee for each supplemental day they do not comply with the regulation form... and the fee is quite huge. Yesterday evening, if you look at the fantom trades (after 4PM) you see a >150k transaction over the SP at close. This is basically a MM that was forced to cover at a higher price than what he expected (he sold too much at a too low price during day) the normal rule for a honest & serious MM is to cover each end of day after close, can be a benefit for him (cover under close SP -> he made a good job) or can be a loss (cover over close SP -> his boss will kill him...) :-) But most of MMs do not play any more with naked-shorts, since January and the SEC regulation... -> HOLD + BUY + ACCUMULATE the more you can, be patient, and become rich. IMO. [/QB][/QUOTE]
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