Quick question

[tmosley]

What is the extent of the new SEC rule on short selling? Does it only apply to financials, stocks in general, or does it also extend to commodities markets?

Thanks.

 

[Fight-n-Mad]

"The Commission’s action will apply to the securities of 799 financial companies."

http://sec.gov/news/press/2008/2008-211.htm

 

[tmosley]

Well, damn.

Oh well, the manipulation continues. . .

 

[Dr.3D]

Well, damn.

Oh well, the manipulation continues. . .

Well, you wouldn't expect them to cut their own throats would ya?

 

[tmosley]

Well, you wouldn't expect them to cut their own throats would ya?

I was kind of hoping they would, you know, in the confusion.

 

[Dr.3D]

I was kind of hoping they would, you know, in the confusion.

Yeah, me too. If the SEC ever did anything that made them look to be on the up and up, I would probably faint.

 

[pacelli]

I believe it is very specific to "naked short selling" and it applies to ALL public companies- at least that's how they announced it on Tuesday.

 

[Dr.3D]

Look at the price on this item.
http://www.nitro-pak.com/product_info.php?products_id=1632&osCsid=62450a64c987ac124d74d945fc5903c0

Last year, I checked the same item and the price was 21% lower.

Seems they can't manipulate the price of food downward anyway.

 

[gaazn]

If shorts have to cover and everyone else is buying, the price will be artificially higher as long as the supports are in place. Once that goes away, then the fallout begins. Unless of course, the rules remain in place forever. In that case, this would be a massive government-supported Ponzi scheme.

 

[DEforRP]

Gee, I guess it was just an oversight that they forgot to extend the shorting band to gold, silver, oil etc.

 

[Dr.3D]

Gee, I guess it was just an oversight that they forgot to extend the shorting band to gold, silver, oil etc.

Yep, probably a very purposeful oversight.

 

[Knighted]

I find it amusing how they are pulling out all the stops to prevent a collapse, artificially propping up the market by banning short selling.

 

[danberkeley]

Gee, I guess it was just an oversight that they forgot to extend the shorting band to gold, silver, oil etc.

Even then, gold, silver, and oil are all up 2-3%, just like the Dow Jones. Priced in gold, the Dow hasnt gone anywhere.