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German's Ban Naked Short Selling From Midnight

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http://ftalphaville.ft.com/blog/2010/05/18/235081/die-leerverkaufer-sind-kaputt/?updatedcontent=1

What next, ban buying unless instructed by Merkel, Trichet et al? This isn't a market, it's a farce to behold, this will only work at the margins. If you spend more than your earn or bailout those who do, you will be penalised for it by everybody, not just the 'wolfpack'. If anything, this might accelerate that which they are trying to avoid as they wreck their last remaining vestiges of credibility in the market.

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http://ftalphaville.ft.com/blog/2010/05/18/235081/die-leerverkaufer-sind-kaputt/?updatedcontent=1

What next, ban buying unless instructed by Merkel, Trichet et al? This isn't a market, it's a farce to behold, this will only work at the margins. If you spend more than your earn or bailout those who do, you will be penalised for it by everybody, not just the 'wolfpack'. If anything, this might accelerate that which they are trying to avoid as they wreck their last remaining vestiges of credibility in the market.

Naked short selling is conterfeiting (See max keiser). Selling someting that you don't own, haven't borrowed, and doesn't exist to sell.

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Naked short selling is conterfeiting (See max keiser). Selling someting that you don't own, haven't borrowed, and doesn't exist to sell.

Agreed on naked, who let them settle up to T+10 in some exchanges in the first place, but it's not the reason their currency and certain sovereign credits are going down the crapper. Sure get rid of it, but it won't change their reality, it will just make it arrive a little slower.

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On another story about exchange fiddling:

Fiddle me this:

The first tangible exchange response to the Flash Crash may be imminent, Reuters reported on Tuesday, citing ’sources’ on plans to set up circuit-breakers to prevent sudden slides in key stocks.

Flashes (excuse the pun) via Reuters:

RTRS-U.S EXCHANGES TO ROLL OUT OVER 6-MONTH TEST PERIOD NEW CIRCUIT BREAKERS TO HALT SEVERE STOCK DROPS – SOURCES
RTRS-NEW TRADING CURBS TO APPLY TO BIGGEST U.S. STOCKS – SOURCES
RTRS-U.S. EXCHANGES WILL NEED NEW STOCK-SPECIFIC CIRCUIT BREAKERS IN PLACE BY JUNE 14 – SOURCE

Securities and Exchange Commission chair Mary Schapiro is set to unveil new measures later on Tuesday.

So-called ‘uniform’ circuit-breakers, understood to halt trading if any stocks drop 10 per cent within five minutes, have been discussed by regulators seeking to avoid a Flash Crash repeat, the FT has reported.

As one poster on the FT site put it, 'there is no breaker on the upside'.

For EVERY trade there is a winner and a loser. If the loser happens to be a BIG player, they can sleep sound. The rest of us fleas get the stomp.

The only 'smart' trade is the one with full insider knowledge. Period.

Edited by cashinmattress

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German's Ban Naked Short Selling From Midnight

Excellent. I dumped my remaining excess Euros this afternoon. Only have day to day cash now.

I'll sit back & watch the meltdown from my mountain hovel in the sun,

& if any multi-layered parasitical public sector goalpost shifters dare to ask for a handout I'll *(^%$££$%% & u$"!&*(^!

No I wont. Lovely folk the Portuguese; generally; providing money isn't at stake.

Good-Bye Europe - it's been fun these last ten years, but next winter maybe not.

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The thought Of Large sweaty Naked Germans staying up til mightnight to sell short is making me ill....

I'm not surprised the Germans are mandating that clothes be worn when selling... the advent of electronic trading was not meant to facilitate a wave of sartorially challenged sellers

back in the day people wore brightly colored Jackets and you would be fined for getting naked on the trading floor...

liffe.PNG

properly dressed sellers only please...

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it's strange really,the dow goes down 1000 and everyone panics.what if it had gone the other way,can't iamgine CNBC doing anything but cheerleading all the way.

well that's worked well for them, eurusd down 200 pips since the announcement, nice move there guys

edit: there are now 10 german institutions you can't naked short, we don't know who they are yet, everyone is wondering who is in trouble that needs this protection?

Edited by moneyscam

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Sure get rid of it, but it won't change their reality, it will just make it arrive a little slower.

which is an absolutely crucial advantage.

Everyone is waiting for the pack to turn on the yanks.

The we shall see what shall be.

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Guest Noodle

http://ftalphaville.ft.com/blog/2010/05/18/235081/die-leerverkaufer-sind-kaputt/?updatedcontent=1

What next, ban buying unless instructed by Merkel, Trichet et al? This isn't a market, it's a farce to behold, this will only work at the margins. If you spend more than your earn or bailout those who do, you will be penalised for it by everybody, not just the 'wolfpack'. If anything, this might accelerate that which they are trying to avoid as they wreck their last remaining vestiges of credibility in the market.

Are these like those Iggy Pop see-through plastic trousers only cut in a Bavarian style of shorts?

I can imagine them being popular with your average Berliner or even the bicurious from Mannhein.

Reckon there could be popular goose steps to be heard over this.

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Presumably we will now see "copycat" short-selling measures from the French, Italians etc. Just to recreate the regulator-induced market shambles of late-2008.

If they are going down the exchange control route (as alleged by zerohedge), I wonder which overseas buyer is going to want to buy euros to buy all those freshly issued eurozone bonds...? Ah well, the ECB will have to pick up the tab somehow.

http://www.zerohedge.com/article/german-reform-about-whack-fx-market-finmin-says-likely-ban-eur-derivatives-dont-hedge-fx-ris

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Naked short selling is conterfeiting (See max keiser). Selling someting that you don't own, haven't borrowed, and doesn't exist to sell.

Much as I enjoy Max Keiser, short selling is not counterfeiting.

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Are these like those Iggy Pop see-through plastic trousers only cut in a Bavarian style of shorts?

I can imagine them being popular with your average Berliner or even the bicurious from Mannhein.

Reckon there could be popular goose steps to be heard over this.

You have now left me with an image of Angela in see-through plastic shorts. No wonder the Euro just bounced of 1.22 :lol:

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Won't they just find another way to achieve this?

  • ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT AAREAL BANK AG, ALLIANZ SE, COMMERZBANK AG
  • ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT DEUTSCHE BANK AG, DEUTSCHE BOERSE AG, DEUTSCHE POSTBANK AG
  • ( NAW ) 05/18 02:41PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT GENERALI DEUTSCHLAND HOLDING AG, HANNOVER RUECKVERSICHERUNG AG
  • ( NAW ) 05/18 02:42PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT MLP AG AND MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG

So short selling is Banned....

Just Call up your local friendly investment bank and tell them you want to go long of Dec10 At the money generali puts ... your not short after all....

thats what happened when RBS and HBOS were taken under...

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  • ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT AAREAL BANK AG, ALLIANZ SE, COMMERZBANK AG
  • ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT DEUTSCHE BANK AG, DEUTSCHE BOERSE AG, DEUTSCHE POSTBANK AG
  • ( NAW ) 05/18 02:41PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT GENERALI DEUTSCHLAND HOLDING AG, HANNOVER RUECKVERSICHERUNG AG
  • ( NAW ) 05/18 02:42PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT MLP AG AND MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG

So short selling is Banned....

Just Call up your local friendly investment bank and tell them you want to go long of Dec10 At the money generali puts ... your not short after all....

thats what happened when RBS and HBOS were taken under...

mmm, Hannover Re and Munich Re are strange choices, not exactly volatile financials and particularly Munich, that share moves like a snail compared to its sector buddies such as Swiss

Edited by Tamara De Lempicka

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mmm, Hannover Re and Munich Re are strange choices, not exactly volatile financials and particularly Munich, that share moves like a snail compared to its sector buddies such as Swiss

No these guys and especially Generali ! are like the AIGs of the Euro soveign meltdown

http://ftalphaville.ft.com/blog/2009/12/10/88161/adventures-in-sovereign-bonds-european-insurers-edition/

generali 1000% leveraged to Eurozone sovs.... *****ers

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Guest Noodle

You have now left me with an image of Angela in see-through plastic shorts. No wonder the Euro just bounced of 1.22 :lol:

Tell you what I find hilarious about all this clever financial jiggery-pokery.

All these guys are in effect sending themselves back to the hand plough.

But they don't know it yet.

:lol::lol::lol:

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People will be looking to rid themselves of anything on this list. The only reason to put something on the list is if they have something to hide.

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When we had the short selling restrictions in 2008, it was at a time when many financial stocks were raising capital through rights issues, and those that weren't were being hammered as proxies for the financial sector.

This time, the real targets are CDS and government bonds- they included the financial stocks to make it look like a blanket curb on speculation (a smokescreen)

However, once the debt auctions start failing as a direct consequence of this rule, so will the banks that are stuffed full of that junk.

Anyone who dislikes government bullsh!t will delighted about this development, to the extent that now that the speculators have been banned, the politicians have nobody to blame but themselves :lol:

Edited by Toilet-Currency

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All these guys are in effect sending themselves back to the hand plough.

But they don't know it yet.

:lol::lol::lol:

It's also possible they are taking us with them.

And we don't know it yet.

:(:(:(

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