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Danville

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In reply to: ausonic on Sunday 21/09/08 10:46pm

I have been short on the CAC for a while with CMC and have not heard from them.

 

Do the current shorts have to cover now ? Such as for FMG,SBM etc.

 

Very confusing..especially by many between naked and covered shorts.

 

http://www.sharescene.com/html/emoticons/icon14.gif

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Maybe the reason for the DOW futures plunging................??????????????

 

 

Democrats push back

 

House Speaker says lawmakers will demand taxpayer protection - Paulson calls for swift action.

 

Last Updated: September 21, 2008: 5:36 PM EDT

 

NEW YORK (CNNMoney.com) -- Democratic leaders on Capitol Hill said on Sunday that the Bush administration's $700 billion proposal to bail out the financial system lacked necessary safeguards for taxpayers and homeowners.

 

Democrats want the measure to include independent oversight, homeowner protections and limits on executive compensation, House Speaker Nancy Pelosi, D-Calif., said in a statement early Sunday evening.

 

"We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome," she said.

 

Pelosi said that Congress will take action on the bailout this week but will act "to insulate Main Street from Wall Street."

 

 

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In reply to: Danville on Monday 22/09/08 09:20am

that means too much longs, http://www.sharescene.com/html/emoticons/lmaosmiley.gif

 

that is good indicator we are not usually have!! LOL...

 

only Dow future open for trade, and Steave from CNBC break the news that the bailout will have some sort condition from Obama camp.

 

i took a little long at 11170, it should be our short target last Friday night, it didn't get there instead now. if i held those shorts i'd cover it now, but we all went to sleep and no shorts left, so went long now instead!

 

 

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QUOTE
ASIC emphasised that it sees a legitimate place for short selling in markets (eg to assist with price discovery). Mr DÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢Aloisio went onto say: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“However, in the current climate and, in light of the actions taken by other regulators, we need a circuit breaker to assist in maintaining and restoring confidence

 

http://asic.gov.au/ASIC/asic.nsf/byHeadlin...ed?opendocument

 

So they are using the shorts, that is, short covering, as a circuit breaker to stop the panic selling in the markets. Bingo! As I have been harping on for some time now, this is the primary silver lining to large open short positions. It is the market's safety net.

 

How on earth are they gonna stop a panic sell next month when there are no shorts needing to cover????

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