hmmmm there will be fines coming for market makers here.sources say heavy naked shorting to keep price in range.
lets see Knight Equity and Rodman Renshaw get another big fine
Kind of like the inflationary measure of the fed printing money on a macroeconimic view and flooding the market with it. Each dollar becomes worth less in theory and that value is held down because there are more dollars floating around thus causing dilution. Fake shares equal fake dilution and fake shares to sell into the market to keep buying demand at bay and hold the PPS from rising through that dilution masking the demand and not allowing the PPS to rise. Does that sound about right Pall in laymans terms? Tried to keep it simple since everyone here is not an MBA or holds a series #.=-)
I wonder also if the email I sent to them(nadaq) the other day regarding Jana's holdings not making sense having just disappeared off their current report maybe made them start looking further into this and put Jana and Arcadia on their radar? That still seems like a mystery since they never filed docs with the SEC showing the sale. And a "voluntary" delisting crashing the stock further? That is definately something we should point out also.
FBI raids JANA Partners SAN FRANCISCO (MarketWatch) — The Federal Bureau of Investigation raided three hedge-fund firms Monday as part of a wider probe into potential insider trading in the financial-services industry.
Search warrants were executed on Diamondback Capital Management LLC, Level Global Investors LP and Loch Capital Management LLC, according to a person familiar with the situation.
The raids come amid a massive government investigation into potential insider trading at hedge-fund firms, mutual funds and investment banks.
The Wall Street Journal reported this weekend that federal authorities are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders. A spokesman from the Justice Department didn’t return an email and phone call seeking comment Monday.
Firms that are involved in aspects of the investigation include Goldman Sachs Group Inc. GS +0.81% , Ziff Brothers, Jana Partners, TPG-Axon Capital Management, Jennison Associates, part of Prudential Financial PRU +0.77% , UBS AG’s UBS -0.90% UBS Financial Services Inc. and Deutsche Bank AG DB -0.39% , according to the Journal.
What is amazing is that people one thinks of as honest folks dismiss the short selling accusations as simply some losers trying to pass the blame for their failure to the phantom of naked short selling. Naked short selling is no phantom, it is documented:
If the proper rules for mark to market were followed, we would not be in much of the mess we are in in this country right now. And ironically, they are still here doing it years later. It is almost an arrogance. It destroys the continuity of the market and the faith of people investing in it! Best thing that could happen here though Pall for longs is for this to get on TPTBs radar as stated in the origional post.
Steve Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules. Indeed, in certain circumstances, naked short selling contributes to market liquidity. For example, broker-dealers that make a market in a security4 generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks such as securities quoted on the OTC Bulletin Board,5 as there may be few shares available to purchase or borrow at a given time.
Hmmmm wonder if the SEC, FBI, DOJ has this one on their radar as a stock manipulated by "Naked Short Sellers? If I were a betting Man I would answer yes. The little guy will win!See you all over .02 today!