Now who's flying off the handle, I don't think I slandered you in any way. We were discussing trading on rumors and the ethics, I'm quoting you here....
Now where does it say that I think people should trade on rumors? I said people should have use it as an opportunity to do some of their own research. Included in that research should have been a phone call to Patty Gomez at the LA office of the SEC. As far as I can tell I was the first that took the time to track her down and talk to her. she confirmed some of what DntWstMyTm had posted. Enough to make me feel pretty good about being short.
So what am I missing here, aren't you saying you shorted the stock on the rumor and got some confirmation after, enough to make me feel pretty good about being short. I wasn't questioning the date you started shorting RACE, just making the observation that you by your own statement were short before having the facts substantiated. Look, as I said before, the only reason why you or anyone else would even think to investigate this story would be that you saw the public rumor being circulated or may have had direct contact with someone with real knowledge of the situation. Now if you're saying you just followed up on the rumor and substantiated it, great. This issue goes to investment style, I simply said I prefer not to trade on rumors.
I don't think I'm knowlegable enough here to accuse anyone of securities fraud and it certainly is not my intent. My point about posting rumors in public forums in an effort to influence a stock stands. Weren't you and others posting about the Cygnet thing before it was verified? My friend, until it's a known fact, then it's a rumor. Perhaps you felt confidence in posting because you had ferreted out some of the facts from the LA SEC , but I don't recall ever seeing you post publicly that you had verified the source at the time, I'm sure you'll correct me if I'm wrong on this.
Again, I had no intention of accusing you of securities fraud, but if the facts as I understand them and have made you feel as such, perhaps you would like to specify what I have said that is incorrect and how it relates to securities fraud. bp |
