DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: - who wrote (788)	6/15/1999 1:24:00 PM
From: lifeisgood	Read Replies (2) of 18137

I might add one other point: "Pump and Dump" (stock manipulation) on the internet (or elsewhere) is ILLEGAL. And, the SEC is very aggressively monitoring these boards for this type of SCAM activity. To engage in it, not only do you need to be not very smart, dishonest, and foolish... you need to be willing to go to jail. While this is true, theoretically, the SEC is much too busy to chase down all of the pumpo-dumpo artists. The threat of going to jail has not been even a slightly effective deterrent thus far. This is likely because the P&D is so lucrative (kind of like selling drugs-- fast, easy money). Fortunately, those who have expertise in identifying these P&D stocks can take financial advantage of their predictable movement (mostly by shorting the pump). This was recently nicely demonstrated with e.g., EFAX and DLIA (both shorted in the 30's, now circa 11). I would also take issue with the assertion that P&D artists are "smart" in any reasonable sense. Most are antisocial in nature, and willing to take your grandparent's life savings without even the slightest hint of regret or remorse. best... LIG

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