http://www.nasdaqtrader.com/aspx/regsho.aspx

KXL still appears on this list (i.e. indicative of KXL naked short selling).  If SGX 'follows' KXL doesn't this worry anyone?  Naked short selling is serious.  It can destroy stocks.

The markets are nasty right now BUT... both KXL and SGX lost ~50% of their value compared to just 1 week ago.  Many of the other stocks I follow are down but not nearly ~50%.  This is extreme IMO... especially considering the potential magnitude of this ddeposit and drilling programs for both companies secured throughout 2008.  Insiders were buying on the public market and institutions/insiders were participating in PPs at much higher levels.  It does not make sense.

Naked short selling the answer?

red911

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Regulation SHO Threshold Security List          
 
Background
 
As defined in Rule 203(c)(6) of Regulation SHO,
a “threshold security” is any equity security of
any issuer that is registered under Section 12
of the Exchange Act, or that is required to file
reports under Section 15(d) of the Exchange Act
(commonly referred to as reporting securities),
where, for five consecutive settlement days:

There are aggregate fails to deliver at a
registered clearing agency of 10,000 shares
or more per security;

The level of fails is equal to at least one-half
of one percent of the issuer’s total shares
outstanding; and

The security is included on a list published by
a self-regulatory organization (SRO).

A security ceases to be a threshold security if
it does not exceed the specified level of fails
for five consecutive settlement days.