MamaBear,
I know that you have followed Elgindy for some time. I'll give you an example of Elgindy in action:
Anthony Elgindy was quoted as saying in a Wired magazine article of April/2000,
"Wall Street is the most manipulated scam and corrupt marketplace on the earth right now..."
However, as a contrasting comment, the author of the article had this to say about Elgindy (and short-sellers in general):
"...the fact is that Anthony isn't really competing against the market makers. Instead, he's picking his profits from the pockets of the legion of small-time plungers."
The same Wired magazine article had this to say about the online short-selling guru:
Two hundred and fifty amateurs pay $600 a month to follow Anthony's trades. When [Anthony] moves, they move...
Within minutes, the 250 traders ... respond to his burst of lyricism with collective action.
This is a TACIT example of manipulation by means of contemporaneous shorting - textbook, IMHO. Read Section 9 - this is EXACTLY what is being described in Section 9 as price manipulation. Sorry, Barb - all of your fantasies about my interest in facts - unsubstantiated. Here I have given a very specific and useful example to you of what it means to manipulate price as described in parts of Section 9 of the Securities Exchange Act of 1934.
Will you be counted amongst those who shorted contemporaneously against CYBR or ARIA or any other stock Elgindy or Auric recommended a short-attack on?
Yes, short-attack. What was described in the Wired magazine of April, 2000 was a TEXTBOOK SHORT ATACK, and it's not legal.
If you are one of the posse piling on to short a stock, you may be guilty of fraud. |
