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Gold/Mining/Energy : Day trading in Canada
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To: the Chief who wrote (1236)11/16/1998 2:25:00 PM
From: gypsy  Read Replies (1) of 4467
 
I find it a little ironic that they are concerned by chat group manipulation, which is probably a legitimate concern, when we have all seen how the brokerage houses manipulate companies to death on the VSE..

BC Securities Commission -
Post says BCSC concerned about chat group manipulations
BC Securities Commission BCSEC
Shares issued 0 1899-12-30 close $0
Monday Nov 16 1998

The Financial Post reports in its Monday edition that the British Columbia Securities Commission is actively urging investors not to get caught up in securities fraud on the Internet. Personal Finance columnist Tracy LeMay says the Internet opens up a wide, wonderful ocean for investors, but the sharks are hungry. Chat groups, bulletin boards and other group activities can be good ways to get information, but promoters hiding behind aliases often use them to flog particular stocks, for which they are paid. They claim to offer hot tips, but offer mostly only hot air. BCSC enforcement official Wayne Armistead says that while two people may pose as mere investors, one guy is in investor relations for the company and the other is the vice-president. Mr. Armistead says they have a nice little back and forth conversation about various aspects of the company. He says it is a fairly effective way to manipulate investors to jump on the bandwagon and buy some stock.

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