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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. 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
    2. drew‏ @drewg__ Oct 18
      Replying to @jasagaxbt

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

      1 reply 0 retweets 2 likes
    3. 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
    4. 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
    5. 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
    6. 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
    7. 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
    8. 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
    9. 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

      2 replies 0 retweets 8 likes
    10. emily‏ @theemilyaccount Oct 18
      Replying to @drewg__ @HiiighKevin @jasagaxbt

      it isn’t worth engaging

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

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

      9:17 PM - 18 Oct 2021
      • 5 Likes
      • Tim Ireland O'Don saga Sherstock Holmes
      1 reply 0 retweets 5 likes
        1. New conversation
        1. hk‏ @hassankhan Oct 18
          Replying to @drewg__ @theemilyaccount

          Drew are you new here

          1 reply 0 retweets 4 likes
        2. drew‏ @drewg__ Oct 18
          Replying to @hassankhan @theemilyaccount

          drew Retweeted drew

          https://twitter.com/drewg__/status/1448099278447169539?t=HgeyBFSocEj1SjDtz2U1kQ&s=19 …

          drew added,

          drew @drewg__
          Replying to @AlexYablon
          Mixing it up in the replies is one of this site's greatest joys, I do it now at 3.5k and I'll still be doing it at 35k
          1 reply 0 retweets 4 likes
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