September 21, 2008
Finally Cox has changed the rules for naked short selling or has he??
What about the all the existing short sales?? notice - he said nothing about them
What about the emergency order not to exceed 30 day ??
The scam is not up - the way I read the regulations they ( the short sellers) have 13 days to repurchase the securities.
But this order - or parts of it presumably expire before then
on Oct 2 - So basically until Cox comes out with complete rules to include all the existing and future short positions exemption etc-- and reporting of them
He has only attempted to put the investor at ease with out actually making any fundamental change
We have until Oct 2 to get out of the market