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.
Listen, I don't doubt that there will eventually be a bounce, but it's not going to happen from $6, it will happen from $2. You're going to lose a lot of money before the stock bounces back.....I hope you've come to that realization.
Oh, and BTW, we did the same with Chemtura, all 30M shares banded together (the Alliance), forcing management to setup an equity committee. That's why the stock price got as high as it did.
Absolutely not, I came up with the scheme. And I have deep pockets from another pink sheet stock I make huge $$$ off of. Same deal there, shorts trying to scare longs. Company is BK, no value to the stock, blah blah blah. I knew better. Went from .02 to 1.78. Check it out -- it's Chemtura (CEMJQ).
What if the stock is to be delisted, even if it might not be right away?
This game has never been about the shorts.
This game has always been about whether the company was run by crooks, and whether it was a fraud from the start.
So, you enter to sell at the highest possible price. But the stock is going to be worth zero in the end. All you'd be left with will be zero.
This is a zero sum game.
Sell at the re-open, when some shorts will try to cover. That's your only chance left.
No real buyer will be touching this junk again.
You final destination is here - your final destruction may be avoided by selling into the short cover.
here are two things you can do, the first is to certificate them but this is not obviously to everyone’s advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today’s price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps :D.
Although an individual personal investor will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on.
I own puts. Mostly for the leverage, since RINO is a sure-fire goner. But also because I never take the borrow risk in stocks that everyone in the world wants to short. Like this one.
You're the guy who is still long 1.5 wks after the company was publicly accused of massive fraud.
So don't act like you have anything to teach me. Or anyone else.