Naked Shorting Judgement Day - Tuesday
Cramer pointed out to investors that on Tuesday the Securities and Exchange Commission (SEC) will decide if the “emergency rule” against naked short-selling should continue with 19 bank stocks. Cramer said that no stock should be victimized by naked shorting, not just the banks. He warned investors that if the SEC gets rid of the emergency rule the hedge funds will come back and bang the financial stocks lower again. Cramer said that he supports the rule and hopes the SEC will extend it too all stocks. “No one should be allowed to destroy a company,” he said. Cramer mentioned that Lehman Brothers (LEH), Citigroup (C), Bank of America (BAC) and Wachovia (WB) are all trading above where they were when the SEC initiated the rule - while Washington Mutual (WM), American International Group (AIG) and National City (NCC) were left off the list of 19 banks and are all down. Join the fastest growing community of small cap investors at Stockhideout.com


August 13th, 2008 at 1:27 am
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!