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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: I Am John Galt who wrote (52883)10/28/1998 2:29:00 AM
From: s martin  Read Replies (1) of 55532
 
>>But what the naysayers (and I) didn't seem to understand was that these holes were not that important to most of the cartel, who had been pursuaded by faith and self-interest (which is not a bad thing by any means) that a short squeeze could work. <<

Matty, The naysayers understood very well that the holes were not important to the the cartel and their self-interest. What you're missing is the fact that the squeeze could not work without recruiting more people destined to lose their money. The squeeze was nothing but a pyramid scheme devised by Morgan and others to inflate the value of a valueless corporation, IMO. There never was a shred of proof that there was a large short position.

If the cartel members wanted to buy into a worthless corporation, that was their perogative. No one would object to that. BUT what took place was that Riley and the others who bought were publically trying to recruit others to join their futile crusade in order to inflate the price so that the cartel members could profit.

It is one thing to discuss a stock on SI, it is quite another thing to lie in order to manipulate stock prices. It is in fact against the law and as the SEC halt language exposed, the company was not being truthful. Although he was harrassed, Mike Kugler brought some excellent DD to this thread. DD that showed early in the game that this was nothing but a charade. You say the cartel was persuaded by faith ? I say they were persuaded by lies they refused to disavow.

I feel that the "naysayers".. and there were many, were helpful to a number of "original" cartel members who actually did read the writing on the wall. Those who chose to close their eyes and ears... are wallowing in self-pity and accusing all but the guilty.
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