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RINO International Corporation Message Board

  • seustis seustis Nov 22, 2010 10:40 AM Flag

    Message for Longs

    If you have not already done so, please, please, please enter GTC sell orders at high prices on all of your RINO shares today. This action is something concrete you can do RIGHT NOW that will increase the number of short shares that will have to be covered immediately when trading resumes, since it will make your shares unavailable for naked shorts to borrow against.

    FWIW, I just entered an ETRADE GTC sell order at $20 on the 4000 RINO shares I has assigned to me over the weekend. As I recall, there were something like 9000 or 10000 open in-the-money November Put contacts as of last Wednesday's trading halt, which represents almost 1MM shares -- somebody can correct me here if you have a way to get the exact count. These contracts should all have been executed over the weekend. I'll bet way more than half of those assignments resulted in a temporary naked short position for someone -- a total of well over 500,000 newly shorted shares.

    You can help force those folks to cover their new or increased short positions by making your shares unavailable. When you place your GTC sell order, please post what you've done and encourage other longs to do the same. Thanks for your co-operation.

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