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drewg__'s profile
drew
drew
drew
@drewg__

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drew

@drewg__

electronic trading technologist, illiquid commodity futures enthusiast, hedge fund/HFT apologist, big idiot

NYC
Joined April 2009

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    1. drew‏ @drewg__ Oct 18
      Replying to @jasagaxbt

      the naked short theory is specifically debunked, you should read the reportpic.twitter.com/Om17T0SCLq

      1 reply 0 retweets 3 likes
    2. saga‏ @jasagaxbt Oct 18
      Replying to @drewg__

      would refer to you page 21 "GME short interest (as a percent of float) in January 2021 reached 122.97%"

      1 reply 0 retweets 0 likes
    3. saga‏ @jasagaxbt Oct 18
      Replying to @jasagaxbt @drewg__

      seems interesting in which they 'debunk' naked short selling and then explicitly provide information contradicting it in the same report.

      1 reply 0 retweets 0 likes
    4. drew‏ @drewg__ Oct 18
      Replying to @jasagaxbt

      maybe i'm not following, how does that confirm the theory?

      1 reply 0 retweets 2 likes
    5. saga‏ @jasagaxbt Oct 18
      Replying to @drewg__

      definition of naked short selling per Investopedia is, "Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist." if short interest is reported to be more than the whole float, as is/was the case...

      1 reply 0 retweets 0 likes
    6. saga‏ @jasagaxbt Oct 18
      Replying to @jasagaxbt @drewg__

      then that is exactly the definition of naked short selling. selling shares that don't exist (i.e. the amount percentage wise over the available float, as described in the report.)

      1 reply 0 retweets 0 likes
    7. drew‏ @drewg__ Oct 18
      Replying to @jasagaxbt

      I would urge you to research rehypothecation, this is the phenomenon which causes short interest to occasionally show >100%. This is a perfectly ordinary thing, read the below for a primer.pic.twitter.com/Za2p5Dr1Jo

      2 replies 0 retweets 5 likes
    8. Sherstock Holmes‏ @HiiighKevin Oct 18
      Replying to @drewg__ @jasagaxbt

      Sherstock Holmes Retweeted Lucy Komisar

      What is perfectly normal about a stock over 100% short? Care to debunk?https://twitter.com/LucyKomisar/status/1450244491361783809 …

      Sherstock Holmes added,

      Lucy Komisar @LucyKomisar
      Replying to @dlauer
      SEC says same shares lent multiple times. Exactly the problem. If shorter didn’t borrow & buyer lends out entitlement, 2 shares = 1 real, 1 counterfeit. Plus, loan may be a “synthetic” options creation, also fake. And on and on. Look up rehypothecation. (Lehman Bros London 2008)
      2 replies 0 retweets 1 like
    9. drew‏ @drewg__ Oct 18
      Replying to @HiiighKevin @jasagaxbt

      I'm saying the mechanism that makes it possible is normal, there's nothing sinister about rehypothecation per se. It's true that GME was unusually highly shorted, but that had nothing to do with market structure and more to do with the business fundamentals specific to GME

      2 replies 0 retweets 5 likes
    10. Sherstock Holmes‏ @HiiighKevin Oct 18
      Replying to @drewg__ @jasagaxbt

      The current market structure allows this practice through the DTCC because of deregulation. Citadel was already banned from trading in China for 5 years for “malicious short selling” and “market manipulation”. If US regulatory loopholes didnt exist would >100% SI been allowed?

      1 reply 0 retweets 1 like
      drew‏ @drewg__ Oct 18
      Replying to @HiiighKevin @jasagaxbt

      Yes, if securities laws were completely different then certain activities would become illegal, that is how the law works. I'm not sure what you are trying to say. My point is merely that rehypothecation is perfectly normal under current law and that the SEC found nothing wrong

      8:58 PM - 18 Oct 2021
      • 8 Likes
      • Tim Ireland Bo Meade O'Don Hunter Travis Chairman Birb Bernanke (🦃,🦃) ¯\_(ツ)_/¯
      2 replies 0 retweets 8 likes
        1. New conversation
        1. emily‏ @theemilyaccount Oct 18
          Replying to @drewg__ @HiiighKevin @jasagaxbt

          it isn’t worth engaging

          2 replies 0 retweets 3 likes
        2. drew‏ @drewg__ Oct 18
          Replying to @theemilyaccount @HiiighKevin @jasagaxbt

          Trying to do my best in good faith! Hopefully I am rewarded with the same 🤔🤔🤔

          1 reply 0 retweets 5 likes
        3. Show replies
        1. Chairman Birb Bernanke ( 🦃, 🦃)‏ @Bonecondor Oct 18
          Replying to @drewg__ @HiiighKevin @jasagaxbt

          they aren’t even saying anything king they’re just making you play chess with yourself

          0 replies 0 retweets 2 likes
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