July 9, 2008
I am lodgin a complaint against the price action of Royal Energy (ROYL). I beleive that the stock is being manipulated through naked short selling. ROYL has been on the RegSHO list for 16-17 days and counting. I am a share holder and I am request a formal investigation by the SEC into the price action and trading practices of this stock. Whereas I feel that short selling is essential to the market, I feel that a $5 minimum PPS needs to be established and that the "uptick" rule needs to be in place and enforced. Furthermore, it should be mandated that all brokerage houses, market makers be directed to "tag" each block trade with the brokerage house of origin. The submitting brokerage house already tracks all trades in their system. This would allow for easier tracking on naked short sellers and increase the ease of prosecution.