Author: Juelich@ra-juelich.com at Internet
Date: 07/06/2000 1:52 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:52:38 2000,
The following information was submitted:
Host: 193.197.156.252
submit_by = Juelich@ra-juelich.com
Name = Stefan Juelich
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = Laduíes and gentlemen,
I am writing you this letter to show that I am in favor of the proposed Concept
Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a
small company is access to capital for creation and growth. It is also known
that investors who place funds in such companies expect and deserve protection
from fraud and manipulation. Small business is a critical building block for
jobs and wealth in our economy. MMs have steadily been selling more shares than
they have bought, defying the laws of supply and demand, solid company
fundamentals and favorable company press releases, resulting in plummeting stock
prices. The laws of supply and demand have been denied and investors deprived of
fair value. Meanwhile, the company valuation of stock has been greatly reduced
and with it, access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
With kind regards
Stefan Juelich
Author: jayandtutu@yahoo.com at Internet
Date: 07/06/2000 2:42 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 02:42:34 2000,
The following information was submitted:
Host: 216.106.1.31
submit_by = jayandtutu@yahoo.com
Name = Jay Montigny
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: mozerd@home.com at Internet
Date: 07/06/2000 3:13 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 03:13:58 2000,
The following information was submitted:
Host: 24.114.94.108
submit_by = mozerd@home.com
Name = David Mozer
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: SAGcgp@aol.com at Internet
Date: 07/06/2000 1:10 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:10:33 2000,
The following information was submitted:
Host: 205.188.199.203
submit_by = SAGcgp@aol.com
Name = Chris G. Paris
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.E
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.E
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: wyzinvests@aol.com at Internet
Date: 07/06/2000 1:42 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:42:08 2000,
The following information was submitted:
Host: 205.188.193.57
submit_by = wyzinvests@aol.com
Name = John P. Stack
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: Vstellas@aol.com at Internet
Date: 07/06/2000 1:11 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:11:13 2000,
The following information was submitted:
Host: 205.188.199.203
submit_by = Vstellas@aol.com
Name = Veronica Stellas
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.E
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.E
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: e4eric@hawaii.rr.com at Internet
Date: 07/06/2000 1:43 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:43:19 2000,
The following information was submitted:
Host: 24.161.157.88
submit_by = e4eric@hawaii.rr.com
Name = Eric YM Tang
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: hrcpins99@aol.com at Internet
Date: 07/06/2000 1:35 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:35:08 2000,
The following information was submitted:
Host: 152.163.204.212
submit_by = hrcpins99@aol.com
Name = Brian Wilson
Professional_Affiliation = Small Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: hrcpins99@aol.com at Internet
Date: 07/06/2000 1:35 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 01:35:31 2000,
The following information was submitted:
Host: 152.163.204.212
submit_by = hrcpins99@aol.com
Name = Brian Wilson
Professional_Affiliation = Small Investor
Subject = problem
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: troy.acton@hill-rom.com at Internet
Date: 07/06/2000 9:14 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 09:14:55 2000,
The following information was submitted:
Host: 206.251.127.194
submit_by = troy.acton@hill-rom.com
Name = Troy Acton
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: mtandry@stic.net at Internet
Date: 07/06/2000 11:36 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 11:36:12 2000,
The following information was submitted:
Host: 167.24.104.150
submit_by = mtandry@stic.net
Name = mitchell andry
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: RBREAZEALE@FIRSTAM.COM at Internet
Date: 07/06/2000 1:04 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:04:36 2000,
The following information was submitted:
Host: 209.211.240.4
submit_by = RBREAZEALE@FIRSTAM.COM
Name = RON BREAZEALE
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: llcart@att.net at Internet
Date: 07/06/2000 7:24 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 07:24:30 2000,
The following information was submitted:
Host: 12.75.40.71
submit_by = llcart@att.net
Name = Leonard Carter
Professional_Affiliation = Retired
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am in favor of the proposed
Concept Release (No. 34-42037; File No. S7-24-99). It is known that
the life blood of a small company is access to capital for creation and
growth. It is also known that investors who place funds in such
companies expect and deserve protection from fraud and
manipulation. Small business is a critical building block for jobs and
wealth in our economy. MMs have steadily been selling more shares
than they have bought, defying the laws of supply and demand, solid
company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand
have been denied and investors deprived of fair value. Meanwhile, the
company valuation of stock has been greatly reduced and with it,
access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism,
yet ,when they become invested through shorting, they actually have
a vested interest in seeing the price fall. This practice must be
brought under some form of control.
The Securities Act provides certain protective language as it relates
to investors. Section 15A(b)(6) of the Securities Act says that the
rules of a national securities association must be designed, among
other things to prevent fraudulent and manipulative acts and practices
and to protect investors and the public interest, and perfect the
mechanism of a free and open market. Section 15A(b)(11) requires
that association rules be designed to produce fair and information
quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities
Act, and unlike the Nasdaq, NYSE and AMEX, MMs are not required
by the SEC to disclose short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and
balances on OTCBB stocks. This leaves the OTCBB listed companies prey
to market manipulation on a scale only limited by the greed and
imagination of the MMs. The MMs just keep selling the targeted
companies stocks with the idea that they will never have to produce
real shares. Their apparent goal is to force the company to fail by
depriving it of working capital and discouraging investment. It is my
belief billions of dollars are being stolen from investors in this manner.
For the MMs, it's a wonderful business; sort of like selling insurance,
but never having to pay claims. They get the money, but have no
expense or expectation of delivering anything tangible in return. This
unfair and counter productive practice cannot go on.
MMs must be held accountable by requiring mandatory disclosure of
MM short positions on all OTCBB listed stocks. In this manner,
excessive shorting can be made known to the investing public,
monitored for excess and corrected by the SEC/NASD. Then and only
then can investors in these stocks be treated with the appropriate
protection against fraud and manipulation.
llcart
Author: d-cleve@pe.net at Internet
Date: 07/06/2000 8:12 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:12:46 2000,
The following information was submitted:
Host: 64.38.86.64
submit_by = d-cleve@pe.net
Name = David A Cleveland
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: colliejr@bellsouth.net at Internet
Date: 07/06/2000 8:29 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:29:45 2000,
The following information was submitted:
Host: 216.76.233.17
submit_by = colliejr@bellsouth.net
Name = Ronnie Collie Jr
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: azzuro@sympatico.ca at Internet
Date: 07/06/2000 8:05 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:05:41 2000,
The following information was submitted:
Host: 64.228.227.189
submit_by = azzuro@sympatico.ca
Name = Luciano Commisso
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept
Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of
a small company is access to capital for creation and growth. It is also known
that investors who place funds in such companies expect and deserve protection
from fraud and manipulation. Small business is a critical building block for
jobs
and wealth in our economy. MMs have steadily been selling more shares than they
have bought, defying the laws of supply and demand, solid company fundamentals
and favorable company press releases, resulting in plummeting stock prices.
The laws of supply and demand have been denied and investors deprived of fair
value. Meanwhile, the company valuation of stock has been greatly reduced and
with it, access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of
a national securities association must be designed, among other things to
prevent fraudulent and manipulative acts and practices and to protect investors
and the public interest, and perfect the mechanism of a free and open market.
Section 15A(b)(11) requires that association rules be designed to produce fair
and information quotations, and to prevent fictitious and misleading quotations.
In spite of the intent expressed by these two sections of the Securities Act,
and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have
to produce real shares. Their apparent goal is to force the company to fail by
depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of
delivering anything tangible in return. This unfair and counter productive
practice cannot go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can
be made known to the investing public, monitored for excess and corrected by
the SEC/NASD. Then and only then can investors in these stocks be treated with
the appropriate protection against fraud and manipulation.
Author: TDOCHERTY@JUNO.COM at Internet
Date: 07/06/2000 12:22 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:22:17 2000,
The following information was submitted:
Host: 63.27.97.215
submit_by = TDOCHERTY@JUNO.COM
Name = THOMAS A. DOCHERTY
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: bulldoggie@prodigy.net at Internet
Date: 07/06/2000 12:02 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:02:05 2000,
The following information was submitted:
Host: 63.252.117.5
submit_by = bulldoggie@prodigy.net
Name = Jeff Dosher
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: veaton@mindspring.com at Internet
Date: 07/06/2000 12:41 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:41:42 2000,
The following information was submitted:
Host: 165.247.212.109
submit_by = veaton@mindspring.com
Name = P V Eaton
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
Please note that I have personally experienced the effects of the MMs predatory
shorting in the following BB stocks: COII, STRU, NVID, NHMC, MRPS, & DGIV.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
P V Eaton
Author: minus8@juno.com at Internet
Date: 07/06/2000 1:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:30:37 2000,
The following information was submitted:
Host: 63.14.100.63
submit_by = minus8@juno.com
Name = Jason W. Edens
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: tony90@frontiernet.net at Internet
Date: 07/06/2000 8:46 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:46:08 2000,
The following information was submitted:
Host: 192.193.210.40
submit_by = tony90@frontiernet.net
Name = Tony Giordano
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: chief156@home.com at Internet
Date: 07/06/2000 12:21 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:21:35 2000,
The following information was submitted:
Host: 24.4.252.242
submit_by = chief156@home.com
Name = Robert L. Graham
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jguib@mediaone.net at Internet
Date: 07/06/2000 12:39 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:39:32 2000,
The following information was submitted:
Host: 165.207.2.11
submit_by = jguib@mediaone.net
Name = Joseph Guibord
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = To whom it may concern:
It is very apparent that the Market Makers are manipulating the share
price of Loch Harris(OTC BB "LOCH")to their own advantage. Something very
strange
is going on because for the last couple of months there has been tremendous
buying pressure for Loch Harris stock but the price/share keeps sinking.
For the last few weeks buys versus sells have been approximately 2-to-1 and
the
price/share keeps sinking. Investors are being scammed of their hard earned
money.
It is my suspicion [and many other investors] that the market makers have a
huge short position in LOCH [aquired by naked short selling] and are
manipulating
the share price for their own advantage [or the advantage of others].
It is time for the SEC to implement rules that put restrictions on the market
makers ablilty to naked short sell OTC BB stocks without having to report
their
short positions.
Sincerely,
Joseph Guibord
Author: jguib@mediaone.net at Internet
Date: 07/06/2000 11:16 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 11:16:02 2000,
The following information was submitted:
Host: 165.207.2.11
submit_by = jguib@mediaone.net
Name = Joseph Guibord
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jguibord@lear.com at Internet
Date: 07/06/2000 8:21 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:21:59 2000,
The following information was submitted:
Host: 165.207.2.11
submit_by = jguibord@lear.com
Name = Janice Guibord
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: richard@hanscom.com at Internet
Date: 07/06/2000 1:45 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:45:46 2000,
The following information was submitted:
Host: 63.72.18.147
submit_by = richard@hanscom.com
Name = Richard A. Hanscom, Sr.
Professional_Affiliation = Telecommunications Executive
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: vick01@metrover.com at Internet
Date: 07/06/2000 7:41 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 07:41:25 2000,
The following information was submitted:
Host: 192.219.24.201
submit_by = vick01@metrover.com
Name = Vick Keshishian
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: pkrafton@fiber-net.com at Internet
Date: 07/06/2000 7:27 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 07:27:36 2000,
The following information was submitted:
Host: 152.163.207.187
submit_by = pkrafton@fiber-net.com
Name = Paul Krafton
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: jacklocklar@hotmail.com at Internet
Date: 07/06/2000 7:48 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 07:48:59 2000,
The following information was submitted:
Host: 204.49.161.14
submit_by = jacklocklar@hotmail.com
Name = Jack E. Locklar
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: mptv24@aol.com at Internet
Date: 07/06/2000 2:04 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 14:04:25 2000,
The following information was submitted:
Host: 205.188.192.53
submit_by = mptv24@aol.com
Name = Jyoti Patel
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: rjpeters@klondyke.net at Internet
Date: 07/06/2000 7:36 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 07:36:50 2000,
The following information was submitted:
Host: 208.245.178.2
submit_by = rjpeters@klondyke.net
Name = Robert J. Peters
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: spodlofs@nassau.cv.net at Internet
Date: 07/06/2000 12:02 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:02:03 2000,
The following information was submitted:
Host: 24.189.24.4
submit_by = spodlofs@nassau.cv.net
Name = stan podlofsky
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: daQuinns@iwon.com at Internet
Date: 07/06/2000 1:49 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:49:23 2000,
The following information was submitted:
Host: 152.163.206.209
submit_by = daQuinns@iwon.com
Name = michael quinn
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). I am a shareholder
in antssoftware ANTS otcbb. i suspect that name may ring a bell for you. i may
be a simple working stiff, but even i can see the stupiity of allowing market
makers to sell something they dont own. Would you please respond to this
question "why do you allow it" (your standard answer- to maintain orderly
markets is not going to fly )
thank you
Author: woolymoon@ragingbull.com at Internet
Date: 07/06/2000 1:38 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:38:47 2000,
The following information was submitted:
Host: 152.163.206.209
submit_by = woolymoon@ragingbull.com
Name = michael d quinn
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: vladar@opentv.com at Internet
Date: 07/06/2000 11:37 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 11:37:09 2000,
The following information was submitted:
Host: 208.247.76.98
submit_by = vladar@opentv.com
Name = vlada raicevic
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: capgainbr@netscape.net at Internet
Date: 07/06/2000 2:15 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 14:15:20 2000,
The following information was submitted:
Host: 206.25.208.226
submit_by = capgainbr@netscape.net
Name = Robert Remson II
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: kays@gnt.net at Internet
Date: 07/06/2000 11:46 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 11:46:13 2000,
The following information was submitted:
Host: 204.49.91.25
submit_by = kays@gnt.net
Name = Kathleen P. Schoeppner
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: c.schwalenberg@t-online.de at Internet
Date: 07/06/2000 9:14 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 09:14:31 2000,
The following information was submitted:
Host: 212.185.248.215
submit_by = c.schwalenberg@t-online.de
Name = claus schwalenberg
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: none@msn.com at Internet
Date: 07/06/2000 9:47 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 09:47:12 2000,
The following information was submitted:
Host: 63.16.193.126
submit_by = none@msn.com
Name = John Schweikert
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: george.sebastian@disney.com at Internet
Date: 07/06/2000 10:13 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 10:13:07 2000,
The following information was submitted:
Host: 204.128.192.52
submit_by = george.sebastian@disney.com
Name = George Sebastian
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: arfio@mediaone.net at Internet
Date: 07/06/2000 12:17 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 12:17:43 2000,
The following information was submitted:
Host: 24.128.140.93
submit_by = arfio@mediaone.net
Name = Anthony R. Trunfio
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: wilsp@marshelectronics.com at Internet
Date: 07/06/2000 1:55 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 13:55:38 2000,
The following information was submitted:
Host: 169.207.62.218
submit_by = wilsp@marshelectronics.com
Name = Phil Wilson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: trwoodley@ncweb.com at Internet
Date: 07/06/2000 9:34 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 09:34:15 2000,
The following information was submitted:
Host: 64.240.52.108
submit_by = trwoodley@ncweb.com
Name = Thomas R. Woodley
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept
Release (No. 34-42037; File No. S7-24-99). It is known that the life blood of a
small company is access to capital for creation and growth. It is also known
that
investors who place funds in such companies expect and deserve protection from
fraud and manipulation. Small business is a critical building block for jobs and
wealth in our economy. MMs have steadily been selling more shares than they have
bought, defying the laws of supply and demand, solid company fundamentals and
favorable company press releases, resulting in plummeting stock prices. The laws
of supply and demand have been denied and investors deprived of fair value.
Meanwhile, the company valuation of stock has been greatly reduced and with it,
access to investment capital for acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market.
Section 15A(b)(11) requires that association rules be designed to produce fair
and information quotations, and to prevent fictitious and misleading quotations.
In spite of the intent expressed by these two sections of the Securities Act,
and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep
selling the targeted companies stocks with the idea that they will never have to
produce real shares. Their apparent goal is to force the company to fail by
depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: tworden@gte.net at Internet
Date: 07/06/2000 9:01 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 09:01:24 2000,
The following information was submitted:
Host: 4.3.194.37
submit_by = tworden@gte.net
Name = Thomas D. Worden
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Author: thephlspher@prodigy.net at Internet
Date: 07/06/2000 8:34 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Thu Jul 6 08:34:37 2000,
The following information was submitted:
Host: 209.255.214.128
submit_by = thephlspher@prodigy.net
Name = Gabriel Zippilli
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
