Thanks for your Naked Truth Atlas Lets chat abo
Post# of 96879
Posted On: 09/30/2015 9:47:59 AM
Thanks for your Naked Truth Atlas
Lets chat about who those Nakeds might be and what is their obligation to cover or borrow.
According to the law. they have to cover or borrow in 3 days. We have to assume that some of them do that.
These shorts could just be Market Makers providing "liquidity". These short positions, to my knowledge, never have to be covered or borrowed because the MM is providing a necessary service called liquidity. They are helping close transactions by taking the other side.
I am not fearful of these guys doing this job. Their companies are on the line, they are known. The buck stops with them. We may hate them, because within all of their networks and knowledge of the players on WS, these guys can most effectively ensure that they never lose. Long term however, these guys are as happy making money on a stock going up as down. Except to satisfy a client that has a short exposure, I dont see these guys short positions as the real long term exposure.
I don't have a real issue with the darks either. if they are borrowing shares they are making the real "short" gamble, in that they truly think the company will hit a hurdle it cant clear. I think this opinion is bolstered by the fact that there are many days where the darks are non players and are smaller players. They are being more careful, and I am willing to guess that they are quicker to get out when they see the current change.
Making the current change is the companies responsibility, and our hope.
The risks are the bad actors exposed by Byrne in Deep Capture, and the market makers that give them access. Ten years ago they used to have open access to the entire market. The Wild West. I really don't know what legal limits exist and which legal limits the might fear today.
Paul
Lets chat about who those Nakeds might be and what is their obligation to cover or borrow.
According to the law. they have to cover or borrow in 3 days. We have to assume that some of them do that.
These shorts could just be Market Makers providing "liquidity". These short positions, to my knowledge, never have to be covered or borrowed because the MM is providing a necessary service called liquidity. They are helping close transactions by taking the other side.
I am not fearful of these guys doing this job. Their companies are on the line, they are known. The buck stops with them. We may hate them, because within all of their networks and knowledge of the players on WS, these guys can most effectively ensure that they never lose. Long term however, these guys are as happy making money on a stock going up as down. Except to satisfy a client that has a short exposure, I dont see these guys short positions as the real long term exposure.
I don't have a real issue with the darks either. if they are borrowing shares they are making the real "short" gamble, in that they truly think the company will hit a hurdle it cant clear. I think this opinion is bolstered by the fact that there are many days where the darks are non players and are smaller players. They are being more careful, and I am willing to guess that they are quicker to get out when they see the current change.
Making the current change is the companies responsibility, and our hope.
The risks are the bad actors exposed by Byrne in Deep Capture, and the market makers that give them access. Ten years ago they used to have open access to the entire market. The Wild West. I really don't know what legal limits exist and which legal limits the might fear today.
Paul
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