Saturday, July 19, 2008 11:56:29 AM
Short on Fire
Last Tuesday, the SEC said it would tighten short-selling rules for 19 financial firms, including mortgage titans Fannie Mae and Freddie Mac, by requiring traders to "pre-borrow" stock before initiating a so-called short sale. The SEC said it had concluded "there now exists a substantial threat of sudden and excessive fluctuations of securities prices generally" that could affect orderly markets.
Shares in financial stocks on the list soared, in part because of the SEC's move, prompting a chorus of complaints from firms that weren't included, many of which have been equally battered in recent weeks.
http://online.wsj.com/article/SB121642263809866665.html?mod=2_1569_topbox
My posting is for my own entertainment, do your own DD before pushing your buy/call button
Last Tuesday, the SEC said it would tighten short-selling rules for 19 financial firms, including mortgage titans Fannie Mae and Freddie Mac, by requiring traders to "pre-borrow" stock before initiating a so-called short sale. The SEC said it had concluded "there now exists a substantial threat of sudden and excessive fluctuations of securities prices generally" that could affect orderly markets.
Shares in financial stocks on the list soared, in part because of the SEC's move, prompting a chorus of complaints from firms that weren't included, many of which have been equally battered in recent weeks.
http://online.wsj.com/article/SB121642263809866665.html?mod=2_1569_topbox
My posting is for my own entertainment, do your own DD before pushing your buy/call button
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