Can SI Members Really Manipulate Stocks? Message Board

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Pastimes : Can SI Members Really Manipulate Stocks?

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To: UDanWright who wrote (15)	7/30/1998 8:43:00 PM
From: Henry Volquardsen	of 461

Dan, Yes there is a new set of investors operating in the market and they may or may not be more emotionally volatile. Having dealt with professional traders most of my adult life I some time find it hard to believe anyone is more emotionally volatile than professional traders. There is a saying among traders that if you can keep your cool when all those about you are losing theirs, you obviously are not paying attention. Professional traders are pretty skittish as well. BTW I am not saying that there is no such thing as manipulation by shorts. Of course there is. I am just saying that it is my experience that there is more bullish hype than bearish hype as that is the path of less resistance. I also am amused by conspiracy theories. I find it amusing how many people on SI in particular jump so easily to the conclusion that cynics on a particular stock are short selling manipulation. Yet some of the most absurd blue sky hype often goes unchallenged. This is because people want to believe. People want to believe. I live in Greenwich Ct which has been ground zero for the recent powerball mania. I have had a powerful demonstration about people's intense desire to believe. One other thing I have always found amusing is the number of people who believe market makers are manipulating equities at every turn. FWIW I am a market maker in over the counter interest rate and currency derivatives. I have never been involved as a market maker of equities but I know a little bit about how market makers conduct their business. There is a lot of basic ignorance on SI about how market makers operate. Anyway, I am enjoying this discussion and look forward to the discussion on this thread. But I am in London at the moment and it is bed time. Henry

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