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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: DWB who wrote (64)	5/11/2000 4:23:00 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 543

Here's some correspondence with Carrie, so you can see which bits the WSJ thought 'interesting' and likely to sell more papers. <To: Lee, Carrie Subject: RE: The Great Globalstar Memorial Day Massacre Sorry for the delay Carrie. We're having painting done and I had to move the puter for a few hours. From what I can gather, I don't think the idea of people moving their stock to cash accounts is manipulative in any illegal sense. No more so than any other recommendation, such as George Gilder gives, secretly to his subscribers, that such and such a company is a great buy. It even has a name, the Gilder Effect. Check that out for manipulation. Why, even the Wall Street Journal writes articles, such as Jacobs Patter, which they KNOW will move prices of companies. I think what is illegal, is conspiring to move a price secretly to personal gain by trading on those secretive and manipulative price moves. I wrote a post in the GGMDM stream explaining some more. To ensure I stay well inside the law, if it exists on this, I don't plan on buying or selling over the next month anyway. It's all in public too, so anyone act in any way they see fit. Companies buy their stock back, and individuals promote that idea, with the intention of moving the stock price up. Companies such as QUALCOMM issue stock when a listing is announced for the S&P 500. The listing of a stock in the S&P 500 is not illegal, even though that is highly manipulative of the share price. So far, nobody has said that it is illegal for a bunch of investors to decide that it is a good idea to protect their investment by moving stock to a cash account to reduce irrationally exuberant selling of that stock. Why, even Alan Green$pan quite deliberately manipulates markets by raising or lowering interest rates. I and my family and friends own stock in Globalstar Telecommunications Limited and QUALCOMM Incorporated and have done since 1995 and 1994 respectively. I have never sold a share of either. Neither do I intend to [not until they are each $1000 a share or something else changes dramatically]. I have bought more from time to time and most recently filled my Tonka-Truck with Globalstar stock at $15 just before the latest serious drops. I've written those details in the streams of consciousness in SI. If this is illegal, I'd really appreciate some guidance as to why you think so. Bye for now, [ask more questions if you like] Maurice Which was in reply to this from WSJ's Carrie Lee At 04:16 PM 5/10/2000 -0400, you wrote: >got your message, thanks. I am curious as to whether you have concerns over >the legality of the board you started. Some could construe this as stock >manipulation, or at least an attempt at it. I'm also curious as to your >GSTRF stake. Will you comment on either? >

To: DWB who wrote (64)	5/11/2000 4:32:00 PM
From: Maurice Winn	Respond to of 543

DWB, it sure has heated up. I hope those CNBC and WSJ people realize they are promoting the idea of moving share to cash accounts and dehypothecating. The SEC might be phoning them or knocking on their door. Meanwhile, here's the item on CNBC from the 'good thread': <"Memorial Day Massacre" gets mentioned on CNBC (repost from marcbirn on the Yahoo G* board) Gon CNBC at 6AM-MAURICE WINN read this by: marcbirn 5/11/00 8:26 am Msg: 39944 of 39951 For those that did not catch it they did a short piece on CNBC this AM talking about the posters on SI that are calling for the G Memorial Day Massacre - where all G* longs band together and cause a short squeeze. The jist of the story was they were debating if this represented stock manipulation and if the SEC should/would investigate, which they postulated they probably would not. My take on the thing was that it was nothing more than fluff/bs. Even the reporter discussing it (pretty blond I'd never seen before) couldn't make a crisp conclusion. CNBC really hates G*. They had a post by Maurice Winn in the background as they had their discussion. I kid you not on this. > Mqurice PS: Looks as though that big trade got cancelled?!! What the heck is going on? It seems that somebody is trying to manipulate the markets with orders to buy and cancelling like that. I hope the SEC is on their case!! We don't want any illegal trading in Globalstar. To: yields who wrote (12599) From: Souze Thursday, May 11, 2000 3:07 PM ET Respond to Post # 12601 of 12610 That 3,458,600 share trade got cancelled. To: vladz who wrote (12604) From: Souze Thursday, May 11, 2000 3:46 PM ET Respond to Post # 12608 of 12610 I receive the trade data from QCharts. Any quote provider who also provides history data for the day would have it, but I don't have any names. For reference, I see the trade as having occurred about 14:26, and the cancellation message at about 14:49.