October 9th, 2008
Short Ban lifted —
No “terrorism” after all?
Joltin’ Jersey Jim Cramer re
How to break a stock
1. Thursday of the week of Worldwide Wreckage — and the SEC lifts its ban on short-selling financial stocks.
The Dow 30 close down another 679 points at 8,625.
2. Recall that two weeks ago Todd Harrison at Minyanville.com reported that a good Washington source said that the feds had identified a concerted shorting campaign out of London and Dubai that began on September 11 and which they considered financial “terrorism.” Rather than simple Creatively Destructive greed.
But apparently that worry no longer troubles the SEC.
3.Here’s Joltin’ Jim Cramer re how the big short sellers destroy targeted stocks.
