I Nominate Francois Goelo even this post is from Ragingbull
CyberAmerica (CYAA) Message List Raging Portfolios - Track your stocks here
By: Francois+Goelo
Reply To: 1121 by 442_W30 Thursday, 11 May 2000 at 5:33 PM EDT
Post # of 1123
FORMAL COMPLAINT to NASDAQ for TRADING RULES VIOLATIONS
nasdr.com
I wish to report that certain Market Makers on CYAA violated established trading rules by "walking down" the stock despite the fact that sales were mostly made at the "Ask"...
1) First Instance: between 9:45 and 9:50...
The stock started trading at: $3.44 x $3.50... 4,400 trades went off at the Ask and 1,500 at the Bid... Yet, at 9:45, after another trade for 900 shares at the Ask, the MM's lowered the quotes to: $3.37 and then $3.125 x 3.50...
2) Second Instance: at 10:29...
The quote was $3.44 x 3.75 when 4000 shares traded at the Ask... Yet, just after, in a repeat of the earlier event, the MM's lowered the quote to $3.31 and then $3.19 x $3.50...
It has been my experience that this type of happenings are very common in this particular stock and that there seem to be no limit to how far the MM's will bend the Rules to fill their pockets... I trust that this incident will be investigated, as this is a Formal Complaint... The good or bad Reputation of NASDAQ is only as good as its Enforcement Division and will certainly impact its future merger plans in Europe and elsewhere....
JMHO, F. Goelo + + +
PS: I suggest everyone concerned file a similar complaint along the same lines... I have done it in the past and it works...
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