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Non-Tech : ECN Bogus Bids and offers, Manipulation BY MMs
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To: Rande Is who wrote (37)7/20/1999 1:57:00 AM
From: Phil(bullrider)   of 112
 
Randi,

I'd compare it to a carnival game. I remember as about a 9 yr old kid, being paid by the carny owners to pitch dimes onto plates. . .Night after night, I'd be given handfuls of dimes to pitch. . .so that the clink-clink-clink would attract passers-by. And the better I got, the more often I won. . .the more often I won, the more people were attracted to play. I took pleasure in keeping his booth filled with people. When I confronted him to collect my full week's salary, the carny owner told me to meet him at the main gate. I got there just in time to see the back of his rig rolling down the road. I guess he thought I was skimming dimes all week long. . . .turns out I wasn't.

The main difference is that you knew you were playing the game.

Did you know you were going to get cheated?

I think not.

But now?

I'd compare it to a carnival game.

This is supposed to be a regulated enterprise.

But you ask us to compare it to a carnival game?

I wonder if the SEC would care to consider it a "carnival game".

I believe that some specialists and MMs commit crimes against the investment community.

I am not calling any names, nor accusing any in particular, but I believe it happens.

Have fun,
Phil

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