I never said anythiung different...read this
Message 11540388
In the larger scheme of things Id thought you all could appreciate the biggest Tokyo Joker of all:
Lets take ETYS a an example!
GSCO was the underwriter they did al the dd in the world as they claim and they decided that the best price for it to come public is 20 bucks, gives them a market cap of 2,000,000,000, the 8 million that trade, determine what the other 101,000,000 shares are worth, Cool HUH?
Ok then they start it trading ( IPO Day! ) it opens at 70-90 bucks, and huge volume ensues, but see trhey dont let any of the IPO shareholders sell, (otherwise you wont get the next IPO, so mostr are stuck for 30 to 90 days.. )
Well ON IPO Daym the stock hits a huge volume and lots of the public wants in on theis deal::
GSCO and its cohorts , undoubtedly have a feeding frenzy on their hands they sell to all the buyers all they can,, and they keep selling as much as possiblew , really milking the damn thing. Then as interest wanes ,, they step away,, causing th stok to drift lower and lower itdrops to almost 30 bucks, in early August after being public exactly 12 weeks later the stock is at bottom, then on the 9th of august GSCO steps up and starts their thing. IPO holders ahacve flipped for a measly profit aor a break ebven if they mbought more in the secondary market bringing up their averages.. ( the Big Secret is taht GSCO created a huge short on IPO week) They dont tell anyone aboutthis short, some might say well there are IPO's that the marklet takes higher and t if they are sghort they get burned..AHA..this aint true, what they do, is keep selling into tye frenzy like RHAT or JNPR , or ARBA, they dont ccare about mprice, all they want is to have the stock rewach the highest possible levels imaginable,..,,,.They only want to increase the average price of the short,see they really have no risk if the price really gets away ..well.... they have all kind so f back up plans , whicjh Ill cover later , Now as they increase the average cost on their shorts, more sellers come in and they are always covering small amount atr the bids which can be a upto a point lower.. This leads us to discuss the point of those few stocks that the day trading idiots dont let down for while and those crooked IPO MM's ( its all in one word =---"OVER ALLOTMENT" ) this one word is a license to steal and to rape, the purpose of the oover allottment as teh firm creates the demand and fills it with imaginary supply that dioesnt exist ( a short ) Remember IPO holders cant sell and if they dio , they only have a few measly shares each, Well then the short is therte and tehn the firm goes swoosh , excercises the over alltment and books a b huge profit , against its wel established short,, than taking a breather and stepping away allowing the market tio come off, then it starts ll over again and since the lover allotment is gone , the rely on Downgrades to manage their shorts,,.. GSCO just put out a buy on 9/29/99:
2) BN 9/29 eToys Inc. Raised to `Trading Buy' at Goldman Sachs & DJN DJ Goldman Ups eToys To Trading Buy From Outperform >ETYS
ON 9/28 the night before the stock was 59 5/8 , after doubling already from 30, WHERE WAS GOLDMAN when the stock was at 30??????????? Why didnt they say BUY IT AT 30?????
However the stock smoked after the 29th, and hit almost 90,, then after GSCO created a huge short they called the following just 14 days later:
DJN DJ CORRECT: Goldman Cuts eToys To Market Outperform >ETYS
Oct 13 1999 6:04
and the stock is almost 20 points lower now ,,
You will now see ETYS go back to 20-40 bucks based on GSCO's need to mnake biig bucks on the huge short, in ETYS, stepping away from it till next big retailing season..
And that is the story of a major Pump and Dump,
Tokyo Joe is a flea compared to the real deals of Wall STreet, he is almost a product of the sesspool inwhich he lives, however ,, he knows its a sess pool, so he should rise above it, but instead he chooses to exploit it,,
Regardless, It is the NASD,a nd Wall Street themselves that are corrupt and nothing they say can ever be trusted.. Its almost impossible for a regular investor to have a fair shot at making money in teh US market ..without having huge capital and sitting waiting for a long tim ..
Go BUy GE, and IBM , if you want to make money in the ,market,, otherwise if you are a day trader you are forever doomed and the only people that get ricj are the Harvey Houtkins and Tokyo Joe's of the world. Period!
End of my little story.
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