Pull the shorts off the shorts
Join Date: Aug 2008
Posts: 2
Thumbs up The shorts write crap like this to....
Yep shorts post this crap all over the net in all the forums regardless of the stock to benefit their short positions and then when all the uninformed chickens sell out it plays into their covering somewhere down the road. Do not sell out of SIRI because that along with isolating your shares or having them physically mailed to you prevents them from their ultimate goal and we all know what that really is. SIRI is a very strong buy in my opinion and we should see at least a double in 6 to 12 months so be vigilant.
More On The Attempt To Block Share Lending
It's a bit complicated and inconvenient to do (isolate shares of beaten down stocks like SIRI and DEIX from one's portfolio). Brokers discourage it. It serves the brokers' interest to keep all stocks available for lending for shorting. The banking analogy given by surfer000 provides a rudimentary example of how the system is supposed to work. A lot of naked shorting is occurring and brokers are participating in a shell game - keeping up appearances - maintaining the illusion - that there are sufficient numbers of shares of all stocks available for borrowing for shorting at all times.
(Sidebar: My broker said that SIRI can't be shorted in a Scottrade account b/c it is under $5.00. I then asked, what about other Investment Houses and Hedge Funds - can't they and aren't they shorting SIRI right now? My broker gave this answer - "I don't know what other firms are doing - they make their own rules". )
Will it make any difference if some retail investors are now isolating their SIRI shares from shorting? From the retail holder's point of view, does it really matter?
Perhaps what the brokers are worried about is something akin to a run on banks. If every retail holder did it, would brokers then be caught with their pants down? With an anemic SEC in charge would it matter?