Richard Ney and the Wall Street Gang Message Board

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Pastimes : Richard Ney and the Wall Street Gang

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To: NoName who wrote (402)	9/2/1998 12:50:00 AM
From: Paul K	Read Replies (1) of 492

I have been lurking around here for a while and have enjoyed everyone's comments. I'm just learning what Ney is about and came across these summary posts from someone on Yahoo, Just though other new readers might enjoy: Also came across this link: znet.com ======================== RN states the facts mrpmrp (48/M/NYC) Aug 31 1998 5:01PM EDT If you really want some more insight as to how stock prices are manipulated the three books written by Richard Ney back in the 70s. They are: 1) "The Wall Street Gang" 2) "The Wall Street Jungle" 3) "Making It In The Market" They primarily deal with the mechanisms by which specialist firms on the NYSE are able to compete with the general public, and justifing there practices under the guise of "putting their own capital at risk to create an orderly and liquid market." Substitute MM for Specialist and set up different slightly different mechanisms to manipulate for the same end result--- YOUR MONEY IN THEIR POCKET. Most people would never believe that a stock as widely held and as largely capitalized as GM could be a victim of large scale manipulation, but most Wall St. professionals will concede that even GM could be manipulated a fraction of a point on a daily basis. I say string those daily manipulations out over the course of a few years and a larger scale price manipulation will have been effected. A brief explaination of how it is done is primarily through the use of the short sale and the exceptional reporting requirements that specialist firms have for themselves regarding when and how they are reported. They are allowed to maintain both trading and "investment accounts" subject to different disclosure regulations with huge ammounts of stock being dliverted from one to the other mostly to cover and disguise short sales. Add to this the fact that the specialist book contains "all" market orders in that stock. They get to see the depth of the buying and selling, and with the current disclosure process as to their personal trading activities, it may as well be a license to steal. I would urge anyone to read these books before investing another dime. mrpmrp - Richard Ney and market Manipulation HYPERHYPESKY (immortal/M/Earth) Aug 31 1998 5:32PM EDT I have been a subscriber to Ney's service for a few months and hear him on Channel 22 over the years here in L.A. It's interesting that Don Wolunchuk who has been the #1 market timer for most of the past four years also believes the MM's and specialists manipulate the market in the same way. According to them the insiders spend long periods of time accumulating stock from the public at the lowest possible prices by taking the stock down to shake out the stop losses etc., running it up to create buyers, shorting at a top and taking it down again, over and over again over a period of either months or years. Ney predicted a drop today on his update last night. It will be interesting to see what he says about today's 500+ drop. He makes recommendations on stocks when his analysis indicates that a stock has been accumulated to the point where the insiders are now ready to start to take it up and sell it all off at a large profit. It sure puts the supply and demand idea in a different light. Richard Ney

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