Looks like illegal short selling is becoming hard to pull off. Wonder how the this new rule change will effect Dendreon. I think this is a big positive for just fueling the short squeeze that is coming. All MM will have a hard task keeping this down.
This rule change that is listed as final and is effective 3 Jul 07 with compliance by 6 Jul 07. Unfortunately does not address "naked shorts" or the grandfather provision. That portion of the change to Reg Sho has yet to be posted, once it is posted then there will be a 60 day window and then the 35 day window as described in the proposal
Where did you see a 60 day window? Everything I have read said that when it made it to the finally registry or �Final Rules� page the clock starts for 35 days. The SEC already voted and approved the new rule change for stoping illegal shorting and to stop the grand father clause. Maybe it will take 60 days to make it to the �Final Rules�.
Under Summary: �In addition, the Commission is amending Regulation SHO to remove the requirement that a broker-dealer mark a sell order of an equity security as �short exempt�, if the seller is relying on an exception from a price test."
This means that they can�t just throw shares at the buy orders to protect against a short squeeze under the �grandfather clause� loop hole. All shorted shares have to be accounted for. Is this right? Still trying to understand it myself.
The chart shows it recently had the CASTLE FORMATION. IF you look at the 1 year chart you will see the castle!!! This is a good indication that the stock will be taking off again. Get in now while the shares are still cheap!!!!!!