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Strategies & Market Trends : Rande Is . . . HOME
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To: Rande Is who wrote (18820)1/17/2000 11:29:00 PM
From: Rande Is  Read Replies (2) of 57584
 
. . . . . SEC vs. Manipulators and Gurus . . . .

SEC Chairman Arthur Levitt said that rooting out Internet scams was a "top priority" for his agency.

Richard Walker, director of the SEC's enforcement division. said the agency was particularly worried about guru / momentum sites, where a particular stock is highlighted and investors are urged to buy [or sell] it at an appointed time in an attempt to build momentum and push the price higher [or lower].

"It's a new, speedier kind of manipulation than in the past," Walker said. "You can achieve a manipulation with the snap of your fingers by reaching large numbers of people very, very quickly and artificially adding to the price of a security."

Additionally, the SEC is targeting fraud at Internet sites and chat rooms, primarily those that charge membership fees that promote [or demote] particular stocks. . .

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And this is why we do not make sudden stock "picks" here, but rather gradually step in and step out of a large number of positions. And this is why we never built a pay site dedicated to picks. [Insighters.com is a massive gated investment & trading site. . .NOT one of those ridiculously high-priced guru chat rooms] . . . We have been outspoken against all types of stock manipulation . . . and we will only get louder.

Already, these public boards are in much better shape than a year or two ago. It will be great to see some bigger changes yet. . . and the manipulators that collectively bash this stock or pump that one may one day be a thing of the past.

Rande Is
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