Calling Mega! What does this mean?

[metalman]

warning to the s.e.c. from the royal navy.

[olivegreen]

Re: Calling Mega! What does this mean?

Mega better get here soon and tell us what this means otherwise I'm beginning to think the French Revolution is about to replay and I'll have to start knitting red hats...

So its either something about football or this....

http://glickreport.blogs.foxbusiness...e-secs-battle/

....I think everyone mutually agrees that short selling is good for the market and a necessity as far as volume is concerned but the question is whether the rules are being changed to only suit the hands of a few. Personally, I found it very telling when Cox had to announce on Friday that Investment Banks could naked short sell without getting a locate before they traded as long as they delivered the stock by the 3 day settlement. Try that one on for size. So let me understand this……the broker dealers who make money from short selling because they participate in a % of the profits when they make deals with pension and mutual funds to borrow their stock to loan to shorts, can now sell without getting a locate themselves because the market needs their liquidity? Or is it more likely the other way around? The broker dealers need to sell naked without getting a locate because they, themselves, need to have access to liquidity to hedge their positions when they’re going long to facilitate trading. And oh by the way, isn’t it odd that this applies to a group of institutions that have access to the discount window and who make billions of dollars doing this. They’re having their cake and eating it too. Does it seem odd to you? Hate to harp on it but I think the SEC will have to do one of two things. One, change the “Uptick Rule” and reinstate a tick test perhaps up 5 cents and two clarify naked short selling rules or enforce the process of getting a locate before you sell a stock. Make it mandatory for every institution or investor shorting stock....

[jtabeb]

Re: Calling Mega! What does this mean?

Mega better get here soon and tell us what this means otherwise I'm beginning to think the French Revolution is about to replay and I'll have to start knitting red hats...

So its either something about football or this....

http://glickreport.blogs.foxbusiness...e-secs-battle/

....I think everyone mutually agrees that short selling is good for the market and a necessity as far as volume is concerned but the question is whether the rules are being changed to only suit the hands of a few. Personally, I found it very telling when Cox had to announce on Friday that Investment Banks could naked short sell without getting a locate before they traded as long as they delivered the stock by the 3 day settlement. Try that one on for size. So let me understand this……the broker dealers who make money from short selling because they participate in a % of the profits when they make deals with pension and mutual funds to borrow their stock to loan to shorts, can now sell without getting a locate themselves because the market needs their liquidity? Or is it more likely the other way around? The broker dealers need to sell naked without getting a locate because they, themselves, need to have access to liquidity to hedge their positions when they’re going long to facilitate trading. And oh by the way, isn’t it odd that this applies to a group of institutions that have access to the discount window and who make billions of dollars doing this. They’re having their cake and eating it too. Does it seem odd to you? Hate to harp on it but I think the SEC will have to do one of two things. One, change the “Uptick Rule” and reinstate a tick test perhaps up 5 cents and two clarify naked short selling rules or enforce the process of getting a locate before you sell a stock. Make it mandatory for every institution or investor shorting stock....

Now can we get the torches and pitchforks? Please?!?

[Nervous Drake]

Re: Calling Mega! What does this mean?

.

[moonshot]

Re: Calling Mega! What does this mean?

Looks like the SEC has come up with a reply

So has the Fed.

[Nervous Drake]

Re: Calling Mega! What does this mean?

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