Rat dog micro-cap picks--now moderated Message Board

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Microcap & Penny Stocks : Rat dog micro-cap picks--now moderated

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To: MSI who wrote (100)	2/19/2004 5:25:54 PM
From: Bucky Katt	Read Replies (3) of 1338

They won't let you pick your price & entry time like the big players? Damn, we got screwed again!!! The worst of the scandal comes down to the moment when the most famous bell at the New York Stock Exchange rings at 4 p.m. in the afternoon. At this moment, the closing price of mutual funds is set for the day, and trading is closed. It’s as simple as that. But Harrington claimed that some big traders were sending in orders hours later and getting the 4 p.m. price -- when they had good reason to believe the market would go up or down the next day. The practice is called late trading. It is patently illegal and it causes regular investors to lose a lot of money. Although Harrington unknowingly made money herself off the scheme, she did not participate in it. So how did find out? The water cooler. “When people make money, there's part of them that wants to brag about that and tell other people,” says Harrington. “That's how I learned a lot about what was going on.” Good story, was on 60 Minutes II last night> cbsnews.com “There was a conspiracy of silence,” says Spitzer. And, if there hadn’t been the whistleblower, he says, he doesn’t know if “we ever would have seen it.” “Remember those who are perpetrating this crime are smart. And they're careful to calibrate and take away not so much that anybody really notices,” says Spitzer. “They were smart enough to limit what they did.” This could explain how this went on for so long – for years – right under the nose of the Security and Exchange Commission, the federal agency that’s supposed to catch these things. _____________ Without Spitzer they would keep pick-pocketing us forever. oag.state.ny.us

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