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Non-Tech : Auric Goldfinger's Short List
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To: CaptainSEC who wrote (5626)8/11/2000 5:24:23 PM
From: sommovigo  Read Replies (2) of 19428
 
CaptainSEC,

Regarding your post of Section 9
How exactly does touting/promoting a stock online differ from what you call 'tactical shorting', in your opinion?

In the sense that you are referring to, not at all - there is no difference if the intent is to manipulate a market, and people get busted for both. The chief difference here when it comes to Auric specifically, is that he SEEMS to use the internet message boards to level threats ("decimate some POS" and "crush some bugs" etc) about his intention to actually use his short-selling as a means of directly attacking a company (thus, it's market cap) and that seems to be a tacit, public admission of intent.

If we are talking about retail investing or retail shorting, it is not necessarily something that would interest the NASD or the SEC... but Auric is a NASD registered broker working for an SEC licensed brokerage, and that may change the tune entirely.

You see, when it comes to retail investors posting to a message board, it is difficult to differentiate between 'exuberance and enthusiasm' and 'touting and hypeing' from a purely legal aspect. When a professional broker starts doing the same thing, it becomes an issue for the SEC and NASD.

Touting or Tactical Shorting by a professional broker seems to be a big nono if I understand Section 9 correctly.
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