the broker is supposed to locate shares to "cover" your deal... i think some ofhte problems come form the brokers not bothering... and there is supposed to be a 13 day cover on shorts that are nekked... the rules don't mean much unless you have some big guns...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by T e x: "so I am sure many would have shorted tcll. . . ."
My understanding is TCLL is a BB stock, ie, not pink, but .OB as shown on Yahoo. How wouls traders short such a stock?
??? you can ofcourse short OTC stock and cover later IMO.. atleast I know for sure that people abroad do it through their brokers.. well..thats my understanding.. maybe I am wrong!
ask your broker whether you can short pennies...report back
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
byins dot com shows 91 stocks that are 13 days or more shorted without being covered... MSO and global crossing have been nekked shorted for 370 plus days... since the list was started... TLCC is not on the list... that doesn't mean they aren't just means it isn't reported... the brokers ar e the only ones that report the failure to covers...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
I know for a reason, because people like repoman love shorting stocks, be boasts about it everytime, like how he shorted NDOL when it was falling down, pgpm, so on and so forth. so i am sure you could do it.. but not through my regular scottrade..
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
was googling about precise process and came across this letter from someone to sec. poor guy must have been really fedup
From: Mark Anderson [dlmma*comcast.net] Sent: Saturday, January 03, 2004 12:34 AM To: rule-comments*sec.gov Subject: S7-23-03:
Dear Sirs:
I am a small OTCBB stock investor and probably ill-informed of some or many of the market practices. I do however believe there is a very detrimental effect on many small companies due to naked shorting. I am in no position to determine the extent of this harm, but I do believe it is severe.
I feel true shorting is an effective control of artificial stock price inflation. I also understand that naked shorting is suppose to provide liquidity. I believe full delivery of securities must be done to prevent the abuse that is going on. But I also believe there must be a mandatory accessible float to prevent abusive manipulation in the other direction. I think we need more SEC personnel to police these naked shorting practices as well as the pump and dump schemes.
Why do I as an investor have just as much right as a market maker to buy a stock, but have no legal means to short an OTCBB stock? I don't think this is fair. I would also like to relate a story to you about another practice I believe is illegal. This concerns a pink sheet stock VRMD Vision Real Estate Management & Development. A person on the Raging Bull message board identified as Riceman82 flaunts how he shorts OTCBB stocks through a Canadian broker. He has identified his broker as TD Waterhouse, stated his naked short sale times, prices, and amount of shares. Even telling people when he covers these shorts, stating that he has ten days to do so, and concedes that this is not on the up and up. I believe there must be a viable, legal, and open to all investors, method for shorting OTCBB stocks so that the these "criminals" (because that's what I believe they are), aren't making a killing at the expense of other investors, the OTCBB companies, and our country.
Thank You, Mark Anderson
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
i was a big fan of the motley fool until a little while back when they entered the shorting game....
they have been downright evil IMO about how they play it too... they are likely to get some lawsuits slapped on them if they keep going hte way they are going... they did GTE, and the most recent one i saw was XNL... another one that's on the failure to deliver list... right after the FOOL puts out a questionable PR... Xethanol Sets Record Straight Following Misleading Statements by Motley Fool Monday June 26, 1:47 pm ET
NEW YORK--(BUSINESS WIRE)--June 26, 2006--Xethanol Corporation (AMEX:XNL - News) today issued the following in response to inaccurate information that was included in a number of Internet articles during the past several days.
ADVERTISEMENT Following an article published by The Motley Fool on Friday, June 23, that carried a number of inaccurate and misleading statements about the company, Xethanol said:
The Motley Fool article authored by Ryan Fuhrmann has a number of inaccuracies and misleading statements, foremost of which is a quote attributed to the New York Times, which in reality is taken out of context from a New York Post story that appeared on Thursday, June 22. More importantly, the Motley Fool article, which has since been referenced by other online ****s further perpetuating the inaccuracies, suggests that Xethanol was formed simply to capitalize on the ethanol interest in today's marke
XNL went on the list today... go figure?
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
just remember? in along position there is a limit to how much money you can lose... in a short postion? there is no limit to what you can lose...unless? you control the market
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
didnt know about this.. nice.. you brought it to the attention. I would hate something like that happening to my holdings. would have "almost" happened to me had I not run from sttk. that thing got screwed BIGTIME.. munchkin man was so pissed when that happened, that he forgot to wear his pj's while ranting allover M* board..
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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quote:Originally posted by glassman: just remember? in along position there is a limit to how much money you can lose... in a short postion? there is no limit to what you can lose...unless? you control the market
and I hear NITE is an expert on this!!!!!
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
interesting.. GM..another thing I am desperately looking for information.. is there some way to know who would come on CNBC shows day before the market opens? because typically I have seen PR's being released late in the day or at the closing of the bell. like who would come on cramers show tomorrow? or who would kudlow interview for tomorrow. an easy 5% gainer if we can just know that IMO. was going through CNBC investing website but couldnt find much info there. any idea?
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
arright..am off for the night.. have an early day tomorrow since i think ssvg might either tank hard or rise 50% tomorrow either of them can happen based on charts.. .. gn all!
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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quote:Originally posted by glassman: that's the problem.... they are carrying darn near a billion in liabilities...
and thats more than half of it...
they seem to think the market is going DOWN don't they?
well, experts predict this healthy correction would actually help market to set next high pitch for dow jones, like 15K. thats what some people in places like stockarena, wsj forums, are all screaming out loud.. have to see how correct they are... and if that is the case, NITE is going bankrupt
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
Wild ride today - glad it finished where it did. Nice week though, after the Holliday we should see some more steady climbing. Next week will probably be a pretty dead week. If I had some free cash I would be looking for some bargains.
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posted
oh okk.. i see whats happening.. ihub guys have stopped pumping today. looks like they got out with profits and are waiting to rejoin around 0.225 area. good bye tcll, back to where ya came from till your next financials are released..chooo..
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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posted
looking thru the dates of the last few 10-Q filings, they've been filed roughly 5-6 weeks after the quarter closed, so I expect next filings out around Aug 7-15, as their rev PRs have been about at the same time as well.
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posted
weatherbill, so many plays coming...Watching 6
Problem: Delagating cash resources and timing of settlement....I prefer 2-3 plays at a time, but this coming week is a tuff one with 6... "limited resources:----->Paid off some bills, and have to build up my trading account, so I have to do it right!.... With about $4000.00 after moving some money around..
posted
Yeah i know purl I had bought some last time at 0.27 and then when it went lower, bought more at 0.24 so average is somewhere in ther hoping for some good financial and it will pop
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posted
VG, you and I bought at the exact same prices, save for one buy I lucked into, I think this one was .21 or close.
Yeah, I am holding on a hope the 10Q will be good.
I know, "hope" is not a good trading strategy but the last 10Q was such a major surprise, there is no way to reasonably judge what to expect, other than hope.
This is the make or break for me. Good 10Q I will ride for a little while then profit take. Not so good 10Q I will dump very quickly.
quote:Originally posted by skipdeez: In at .28 and .27...
I was in this during the last release of the financials. Sadly, I got impatient and sold (still learning, forgive me)
The volume spike and price increase today definitely show the market's anticipation of good news/financials. Might jump back in on a dip, might miss it too... Good luck to you all!
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posted
Skip, this one is a real teaser. Truly, none know what to expect. Prices have moved up and down so much, lot of people became nervous like you. Many times I thought, "I better sell."
Might turn out your decision was the best decision.
posted
I was lucky not to jump in like alot who got in at about 0.33+ the only reason I stayed is because I averaged down and when there was a spike in between I sold half so I am "hoping" i am at a safe position. Purl if you bought a chunk at 0.21 your average price could be safe too
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