Speaking of the loopholes you mentioned, I read your earlier gushing post about being a "former naked shorter"
wEaReLeGiOn Sunday, January 29, 2012 12:51:53 PM
Re: Rawnoc post# 161555 Post # of 161647
Please read my post more carefully. I didn't claim to make $50k, I made a $50k short borrowing my own shares, for a tidy sum (it was a few thousand dollars that I netted).
Speaking of the loopholes you mentioned, I read your earlier gushing post about being a "former naked shorter". "As an ex naked shorter myself, believe me, these guys are very creative in finding legal loopholes." I'd be more interested in hearing your thoughts with regard to this post-
I also noticed we haven't been hearing the YOY stats lately, care to remind us today? TIA
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The SEC doesn't have time or resources to look through crack-pot NSS PinkSheet stories, anymore than they have to date (none of them amounting to anything). I'd say they're well aware that PinkSheet gamblers don't read all of the warnings about buying into PinkSheet stock stories, offered by the SEC.
I for one, would rather see their resources being spent clamping down on PinkSheet promoters who regularly run afoul of 17b disclosures, and cause financial and emotional harm to unsophisticated 'investors' while they themselves are given stock for their canned promotions in various companies to push these garbage stocks. There is no shortage of cases brought to bear upon these dregs of society, whereas "NSS" has been shown in the OTC to be nothing more than artifice, and often an artifice offered up by these touts and louts as to why their PinkSheet promotion is under water.
I hope the SEC investigation into JBII reveals any consultants that were paid to promote the stock, assuming the consultants didn't just show up at JBI's office and receive cash or equivalent in lieu of shares.
I'm sure you'd agree?
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If you "made" $50K shorting your own shares on JBII then you also lost $50k at the exact same time on your long side.
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Rawnoc Saturday, August 20, 2011 12:47:38 AM
Re: bladelawless post# 130212 Post # of 161651
As an ex naked shorter myself (when it was legal), I can appreciate the desire to short an OTC with this kind of "news," however, this one is way too dangerous to short. It's too real and the infraction mentioned in the CA suits has got to be the weakest case I've seen in hundreds of them. Media credit valuation from 2 years ago (when they were brand new to the public markets) that the company voluntarily restated?
In this awful market, there are far better and easier shorts with not so much lethal risk (to the short).
Just sayin'
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Rawnoc Thursday, November 03, 2011 11:18:22 AM
Re: Mikey post# 169 Post # of 189
Yes, I've been shorting stocks for 13 years and have made thousands of transactions on the short side. I also used to naked short back when it was legal.
Live it? I have breathed it. I know EXACTLY how it works. You get the money up front. Where did you think the money comes from? The short sellers' fairy godmother? If a stock goes from $23 to $1, the cover at $1 is peanuts. The profit comes from the initial $23 shorted at as you get that cash IMMEDIATELY and INSTANTLY.
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