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Strategies & Market Trends : Americans 4 "No Own - No Sell"
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To: joseph krinsky who wrote (73)10/1/2001 1:59:01 PM
From: peter michaelson  Read Replies (3) of 455
 
joseph, thank you for your civil inquiry. In all honesty I am not that familiar with all the laws and ins and outs.

What we do is well known to the authorities. I will rely upon them to tell me if I am breaking any laws.

We do not collude to drive prices down through trading. I doubt that works - there is way too much money in the market. If it were only trading that drives the prices down, then once we have coverd our shorts the price should rise back up. But the price does not rise up because once the market has the information, very few buyers remain.

Take a look at SLPH for a current example. Many site members were short - I bet very few are now, although I have no way of knowing for sure. The main sellers are the insiders - they will sell at any price, because any price is more than the stock is worth.

What we do is organize to uncover information and present it to the public. We also trade on that information. If a company deserves a decent stock price, then we don't short it.

In the absence of the profit motive (short selling) to uncover a fraud such as SLPH, insiders would have been able to sell many more shares and at higher prices to victimized unsophisticated investors.

Peter

P.S. I am done with the conversation. It's not a good use of my time. But feel free to post your reply.
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