< what the SEC now thinks is front running.
Thinks?? I want to know what is. LOL, and none of the Slick Willy 'depends on what your definition of is, is'.
Tokyo Joe is a good example. How far ahead do you have to buy, to be considered a front runner?
If Joe posted on SI, or sent an email saying "I'm going to buy xxxx", if he didn't have everything set, and get a fast execution, everyone following him would have run it up before he was in.
So his deal was, at least for a while, to buy the day before, to "test the waters", see how the stock reacted, how the MM's reacted, then put the pick out to the members by email at 10am, then on the thread, 5 min later.
So would all the members that bought in that 5 minutes, before the non members on the threads and the lurkers bought, be "front runners" too?
By the time it hit the threads, it would already be running away - heck of an incentive to pay for the emails, especially after a guy got burnt a few times.
Members knew what he was doing, and applauded him for it, 'sure we don't care if we're buying your shares, just keep the picks coming'.
Even now, a lot of the "heavies" on these threads would be nuts to post before at least having their order in, if not already filled.
We won't even get into the MM's that join these groups, and/or watch threads.
There is I think a big difference between front running, by a non pro, and stock manipulation. |
