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Pastimes : Can SI Members Really Manipulate Stocks?
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To: UDanWright who wrote (15)7/30/1998 8:50:00 PM
From: Andrew Vance  Read Replies (2) of 461
 
I enjoyed your post. It hits the target. I think your scenario plays out more times than we are all willing to believe. But do not limit it to low end stocks or unscrupulous MMs. How many times does a major brokerage come out with a BUY recommendation which results in a decline in share price?? Could it be they have bought up inventory on the stock to raise prices and then dumped it on the retail brokers to sell to the clientele who were left holding the bag.

I have seen more than my share of pump and dumps from all sectors. What is missing is the hidden pump and dump. This is where a consortium of investors buys up a stock over the course of 1-3 weeks in small quantities ($7 trades makes this possible) and establish a nice position. then they feed information to the more gullible websites, newsletters, IR paid newsletters, and online investors for a massive pump and dump. People nibble at the stock and they hold onto their blocks of the low volume traded stock UNTIL more nibble and it looks as if no one is selling. This causes a minor pop which they then sell into. Once they unload, there is no support for the stock, it stagnates, people lose interest, and there are no buyers when they want to sell.

Andrew
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