Barb,
It is interesting to follow a when and then and what-if discussion about an incident which is some time (in today's nanosecond times a light year) away....
Addmittedly, I see that the emulex/qlogic etc thing was not a small scale fraud, but then it is an isolated case which has nothing to do with normal course of (fraudulent) market operations.
But what about rigged games, fraudulent above market buy-ins, false openings, collusive stepping back of the "market", running stops, exploiting margin calls, (see Thursday, Oct 18, around 10:30-11:00)....
Other examples? What about the AVCO (the stock which rose from 2 to 34 and opened at 3 the other day)? What about the likewise fraudulent squeeze in ABR Information (ABRX) a stock taken out by CEN but rose from 25 to 100 one day...etc,...questionable trading and an even more questionable trading halt in CHAR (Autumn 1999), and shortly after, an even more ridiculous rally in Ariel?
The EMLX case is a muster case to point out individual fraud (or fraud committed by one individual), as opposed to a system which appearently can't live without asymmetrical information?
When I look at the "exaggerated" volatility in the securities market, which has nothing to do with individual decisions, the widespread quote manipulation in the horse races betting comes to my mind...we must live with it. |
