The Securities and Exchange Commission has announced that the Long Only Suction will expire next Wednesday night, following the government's approval of the Patriot Act Bailout Bill. The SEC has previously said it would extend the ban 'til October 17.
SEC short-selling ban to expire Wednesday night [Reuters]
Sep 15, 2009, 2:22pm
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Sep 09, 2009, 11:27am
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Posted by AJ , Oct 03, 2008 7:43PM
BESS GO HOME!
Posted by guest , Oct 03, 2008 7:47PM
What's the over under for the Dow down 1000 points next week?
Posted by guest , Oct 03, 2008 7:56PM
See you at the wedding Bess.
Posted by StupidEquityGuy , Oct 03, 2008 7:57PM
@2,
I think its better then 50/50... I have lowered my exposure to the market significantly lately... The exposure is not worth the risk even if your right in the end at this point.
This is both long and short bias trades. Basically, while my clients are happy, we still don't feel a need to stay exposed to this market at the levels we used to be.
I am at historic levels of cash for my family of funds...
~SEG
Posted by guest , Oct 03, 2008 8:03PM
SEG, please learn the difference between "than" and "then". It ruins your credibility that you can't get that right.
Posted by guest , Oct 03, 2008 8:17PM
SEC's credibility was destroyed in Gramm Leach as was intended.
Posted by guest , Oct 03, 2008 8:22PM
SEG, not SEC. @4, in other words.
Posted by StupidEquityGuy , Oct 03, 2008 8:39PM
@5, I had a German national nanny as a child, my parent fired her when they realized their child spoke German, instead of English at the dinner table.
I was 6 before my parents heard words they expected to hear when sitting at the dinner table. Long story short, I have massacred both of my native languages, even though I don't speak German anymore or English correctly.
When I lived in West Germany for a year (1983-1984), my German teacher gave me a higher grade if I promised not to return to her class for the next semester, she said I made her ears hurt speaking her native language.
A year later, my English teacher at the boarding prep school I was attending back in the US (1984-1986) suggested that I skip taking English classes after my necessary minimum as she was tired my destruction of her language.
So Sir, I apologise for the shear mangling of your language as I ramble along posting in the forums. If Bess posts another of my Stupid Equity Moments, I will try to make sure it is ready for public display first.
I write the monthly letter to my clients, and I have two levels of editors before it ever sees the light of day. I also am paid by my clients, and this location is for fun.
Sometimes in life, you get what you pay for...
Best,
~SEG
Posted by guest , Oct 03, 2008 9:16PM
Too long, didn't read.
Posted by guest , Oct 03, 2008 9:18PM
@8
Hahaha that's some fucked up shit right there but very funny. I had to read it twice. First time I became very distracted when I read the words German and nanny. National Lampoons European Vacation and Russ with the German girl. Damn that girl was hot, beautiful chucks.
I can relate SEG. I had a blue eyed 21 year old Swedish nanny I lost my virginity to. I always thought it was weird that she wanted to breast feed me after my soccer practices. Those truly were the days of milk and honey.
SPODE
Posted by guest , Oct 03, 2008 9:45PM
I totally understand what SEG went through. I live and work in Hong Kong and my expat Australian neighbours are going a tough time with their children because of exactly what SEG went through when he was a kid.
Learning Mandarin is the fashionable thing to do for all expats but the parents are only beginning to realise that their children are struggling to cope with learning two entirely different languages at the same time and a lot of the expat children are experiencing speech impairment. A small minority of kids can cope, but most cannot.
Mr "Too long, didn't read" @#9, aka Mr ADHD, probably went through something similar in his childhood years.
Posted by guest , Oct 03, 2008 10:05PM
Seeing AIG has already devoured $61billion of the $85billion credit line extended to them by the Fed in little over a week.
What happens if AIG draws down the entire credit line $85billion and still can't turn things around? Can they file for bankruptcy protection then? What would happen to the taxpayers' $85billion?
Posted by guest , Oct 03, 2008 11:44PM
"What would happen to the taxpayers' $85billion?"
The same thing that will happen to the taxpayers' $700 billion.
Posted by guest , Oct 04, 2008 12:21AM
Hey lay off SEG. This is no prose contest. This is a fucking impromptu commenting system. Go "I want to be a spelling bee" forum to have your daily disparage of spelling wasps.
Back to the topic, yay! Short baby short!!!!
Posted by guest , Oct 04, 2008 12:58AM
SEG - as usual thanks. 12 years of private school, 2 university degrees and i still can't spell and my grammer blows. Nice to know i am in good company.
Spode you always amuse me. Like the frat boy i dated at for 2 years @ university and the boys on my desk, you always make me laugh.
Good night boys.
Posted by guest , Oct 04, 2008 1:28AM
@15
Callan, is that you? Take that blouse off!
Posted by guest , Oct 04, 2008 1:46PM
People have been shorting the market and individual stocks any way. They just sell a call option, or buy a put (or do both). Then market makers (who take opposite side) do the shorting for them because they hedge such positions by shorting (and have had this right all along).
Remember that a short stock is equivalent to selling a call and buying a put at the same strike.
Read the articles in blog link below. He uses options in trading, and was still shorting....
BONUS: Blog makes real time calls for free, and they are razor accurate.
http://financialtraders.blogspot.com/
Posted by guest , Oct 05, 2008 3:40PM
@17 - what an idiot. How does an options trader hedge with a short selling ban without pushing up voltaility?