Re: ELMX
Call me crazy, but I don't see why CNBC keeps and other talking heads keep saying traders must be careful of what they hear in chat rooms, etc.
What are they advising, not to sell when a negative news release comes out??
Should a trader take 10 minutes to call the company and verify each news release?
The way EMLX was falling anyone who didn't try to dump their shares would have been nuts.
We were all tripping over our feet trying to get short. Thank the God of trading, I wasn't long or short, but it could have been me as quick as anyone else.
This type of hit could put a trader out of biz for life and CNBC says, "don't believe what you read in a chat room," go figure. Odd that CNBC couldn't spread the news fast enough, why didn't they call and check on it? Jeesh
After the PAIR fiasco and now EMLX, the SEC better act against these short sellers with such zeal that no one EVER tries that again.
Blame belongs in one place and one place only, the crims that shorted EMLX and created the fake press release.
Everyone who has ever traded a stock should write, email, or phone the SEC and let them know we expect them to prosecute to the full extent of the law. If you think of it, you might email CNBC and remind them where the blame belongs, and it ain't chatrooms!
Fred |
