June 26, 2007
Gentlemen,
As of 1:30 PM today NFI has traded 3,400,000 shares.
As of that same time today, the options market makers have traded 15,200 PUT contracts. That means they have sold 1,520,000 naked shares into the market to hedge their positions.
THAT ALSO MEANS THAT 1/2 OF THE TOTAL SHARES SOLD IN THE MARKET TODAY FOR NFI (DOWN $.84) DO NOT, AND NEVER DID, EXIST.
NFI is a NYSE issue and this rampant counterfietting is inexcuseable. Sad thing is that it is right out there in the open for all of us to see.
Why is is that the unwashed among us can watch these counterfiet trades happen in real time and yet you do not think there is a problem?
At the current rate of market maker counterfietting, the naked shares will outnumber the actual shares within two more days.
Will you admit there is some abuse then?
Bruce