Betty:
>>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.<<
No! I never said I shorted the stock based on any rumor.
>>I wasn't questioning the date you started shorting RACE,<<
Betty this is where the logic of what you've said crumbles. The dates I shorted the stock have everything to do with this. I started shorting RACE on March 3rd for the reasons Val listed. WS Clearing was still a going concern as of that date. They were still solvent. I had never heard of them. Cygnet is from Jersey, I'm from Jersey but that's the only thing we have in common. Only after DntWstMyTm began posting about them on AOL in May did I learn anything about their existence. That was more than two months after Istarted shorting the stock.
>>just making the observation that you by your own statement were short before having the facts substantiated.<<
In a convoluted kind of way that is actually true. ;-) It's also true that I was short the stock before I read posts about the WS Clearing/Cygnet faceplant on AOL.
>>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<<
If someone posts somewhere that 20% of the outstanding stock of a company I have a postion in is in the hands of a bankruptcy trustee it is going to get my attention. Stuff like that doesn't happen every day. Frankly I'm surprised no one here was motivated enough to make the call before I did.
>>or may have had direct contact with someone with real knowledge of the situation.<<
Nope. No "direct contact". No smoking gun. No conspiracy among shorts. Won't ever be a TV movie.
>>Now if you're saying you just followed up on the rumor and substantiated it, great.<<
BINGO! We have a winner.
>>This issue goes to investment style, I simply said I prefer not to trade on rumors.<<
And I agree with that Betty. Have never said anything different. Never traded on the Cygnet rumor. Never traded on the Cygnet fact. Shorted RACE because of the discounted convert and what I perceived to be dim prospects for BT.
>>I don't think I'm knowlegable enough here to accuse anyone of securities fraud and it certainly is not my intent. <<
To say or imply that someone used inside information in their trading is to accuse them of securities fraud. To do so in a public forum is slanderous. To do so without any factual basis is well, um, not an intelligent thing to do.
>>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?<<
Betty, read my stuff on AOL. Until you do that you have no idea what you are talking about.
>>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. <<
You stand corrected.
>>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.<<
See above re: insider trading.
Enough of this crap. Let's move on.
drakes353 |
