March 18, 2008
Found this in Yahoo massage board, how can small investors fight with GREEDY shorters, hedge funds and naked shorting evildoers? Totally UNFAIR GAME...
103 consecutive days on Reg Sho list 14-Mar-08 02:21am
Ordering your stock certificates can make it more difficult for Big Short (BS), but what continues to cause me and should cause you angst is "Fail to Delivers" FTD's on LDK. Today marks 103 consecutive settlement days the company has been on the Reg Sho Threshold Securities list. By my calculations there are only 14 other NYSE listed companies that have currently been on as long as LDK and since it is difficult to obtain actual numbers on FTD's we can only speculate. It must by definition be a minimum of 530,200 daily shares( 1/2 of 1%) up to a max of 7M as shown currently as short shares. I think we can all agree it has been close to the total average shares traded during the last 103 days.
BS is provided cover by LDK being on the SHO list for such an extended period of time. I don't know what other longs think but I believe BS is not at all interested in what the company is about but rather parameters such as volume, volitility,market cap,ability to churn,and ability to fabricate shares... I am very optimistic about the future of the company, but in the near term we must get the SEC to question why the NYSE specialists continue to grant extensions one after another (normal temporary extension are 30 days). I suggest someone send the SEC a request to provide a detailed explanation for treating LDK so much differently than nearly all other NYSE listed stocks. Although the SEC believes there is no direct evidence that FTD's in themselves result in Naked Short selling, at a minimum for 103 days it gives BS the opportunity to take advantage of a flawed system, it reminds me of being able to zerox $100 bills and then buying shares with the counterfit paper dollars. Finally, it was a great day for us longs and Peng learns fast. The PR was excellent, we should thank the man, he deserves it.