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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?


To: badon518 who wrote (10481)6/20/1999 2:36:00 PM
From: bargainman  Read Replies (2) | Respond to of 19700
 
Re: "Front running" ... I'm not sure the term is correctly applied to what tokyo joe is allegedly to be doing, which sounds to me more like out and out fraud. I've heard the term used to describe what happens when someone acquires advance knowledge of a major impending purchase by a mutual fund or a pension fund then buys the stock in advance of the fund transaction and cashes in on the almost certain price bump. In fact, an employee of a state pension fund in my state was caught "front running" on stocks the pension fund was planning to buy and was forced to resign.



To: badon518 who wrote (10481)6/21/1999 11:21:00 AM
From: JavaGuy  Respond to of 19700
 
Frontrunning is a term for brokers and traders trading ahead of their customer's orders. Like when Bob tells you to buy 100k shares CMGi, and you decide to buy yourself 1000 shs first. So TokyoJoe is not frontrunning, because he is not trading for his "people", just pump & dump, which is not illegal, just a little sleazy. BTW "shadowing" is trading after a client, it is also illegal.

JavaGuy