UK bans short selling of financials till jan 16th

[tiznow]

has been done previously and history has shown it doesn't help and probably makes matters worse....

i think the end is near

this is a huge event!!!!

these fucking morons giving the markets their tell and putting a crash mentality into the marketplace

what a bunch of idiots!!!

maybe i'm wrong but this sets a bad bad precedent....and really screws with people's mentality which is key in times like these

my bear ass covered a short earlier today and was thinking this might be a capitulation bottom and cover more

now i'm not and staying short and not covering (buying)

i'm sure many others like me.....

idiots, morons.....shorts give markets balance to avert a no bid free fall scenerio!!!!!!

 

[quantumleap]

Kind of like telling the market "ok, even we realize you're fucked". The market should respond accordingly.

But the worst thing about this is not letting people make choices. This is supposed to be the "free" market. People aren't free to do certain things in cases like these.

hno:

 

[xpanda]

I'm only 38 years old. In my lifetime, I've watched the United States transform from the leader of the free world, to arguably the most fascist/socialist amongst us.

I really don't understand why you guys bother to defend your right to bear arms, if not for times like this. Isn't this what the Revolution was all about?

 

[tiznow]

i think earlier today when i was yelling this might be the big one

UK freaked out and thought the same thing

and we got the initial pop off the news when people like me covered some stuff thinking it was due to natural market forces

when now i realize it was based on this horrible decision

will be interesting to see what happens in the days to come

this has been an amazing week....simply amazing

 

[quantumleap]

'Naked Shorting' Crackdown Exposed as Another Failed Effort to Prop Up Stocks

http://finance.yahoo.com/tech-ticke...Up-Stocks?tickers=GS,MS,GE,XLF,JPM,^DJI,^GSPC

If the effort was primarily aimed to stem declines in Morgan Stanley and Goldman Sachs, as was widely reported, the new SEC rules to prevent "naked shorting" are shaping up to be a miserable failure. (Which may explain John McCain's calls for SEC Chairman Cox to be fired.)

[snip]

But forcing hedge funds to focus more on compliance vs. trading will not solve the ongoing crisis, says Harrison, a former trader at hedge funds Galleon Group and Cramer Berkowitz.

The government is "playing a game of chicken with the underlying imbalances" created by the various and sundry efforts to keep the economy afloat after the bursting of the tech bubble and 9/11, he says. The current turmoul is a "natural and overdue" downside from those efforts and the government's efforts, no matter how well intended, can't prevent it from occurring, Harrison says. "Only time and price" can solve what's ailing the financial markets.

 

[xpanda]

For those of us who watched SKF hit 154 and are still stuck with it now, aren't we stuck waiting until at least Jan 17th before it's going to move back up?

 

[quantumleap]

For those of us who watched SKF hit 154 and are still stuck with it now, aren't we stuck waiting until at least Jan 17th before it's going to move back up?

No, banning of shorting was only naked short sales in England. The US and Canada still allow short selling.

This current downtrend is only a knee-jerk reaction to the news.

Remember:

"The fundamentals are strong with this one."
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