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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (57248)	10/20/2000 3:14:28 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 63513

I expect the next pb to be between 3300 and 3350. 3150 would make a nice higher low, but I would like to see less of a pb. Watch for a name change for the thread....

To: Don Pueblo who wrote (57248)	10/20/2000 3:25:10 PM
From: Lazarus_Long	Read Replies (2) \| Respond to of 63513

HOW TO MAKE MONEY AT HOME USING YOUR COMPUTER!!!! Lots of money. From USA Today: Despite settlement, teen trader cleared $500,000 CEDAR GROVE, N.J. — The teen-age trader who paid $285,000 to settle stock manipulation charges didn't come away empty handed: He kept about a half-million dollars in profits. The Securities and Exchange Commission last month brought civil fraud charges against Jonathan G. Lebed, claiming he made his money through a ''pump and dump'' scheme. Lebed, now 16, bought large blocks of nine low-priced stocks, hyped them on Internet financial message boards and then - within 24 hours - sold his shares after the price rose. He used this method twice with two stocks. The trades were made between Aug. 23, 1999 and Feb. 4, 2000. Lebed agreed to pay back $285,000 without admitting or denying the allegations to settle SEC charges related to 11 trades. But, according to ''60 Minutes,'' he actually made about $800,000 from 16 trades the SEC did not charge. Lebed spent some of the profits on a $42,000 Mercedes-Benz sport utility vehicle for his family, his mother said. SEC regulators told The Wall Street Journal that they alleged wrongdoing in the cases they felt they had abundant evidence. ''We charged violations with clear instances of fraud,'' SEC enforcement chief Richard Walker said. Ledbed's attorney, Kevin Marino, said the SEC had wanted to recover his client's total earnings but they settled on what he called the ''somewhat arbitrary'' figure. In an interview with 60 Minutes, Lebed said he sees nothing wrong with what he did. ''I wasn't posting any kind of false information. I didn't make up any facts or do anything like that,'' Lebed said on the show to air Sunday. SEC Chairman Arthur Levitt said Lebed made more than 200 postings on individual securities. ''And that represents, in my view, a wholesale effort at deceiving many investors,'' Levitt said. Marino said most of the Internet postings included a disclaimer, ''Be sure to take the time to do your research.'' The SEC found that Lebed sent e-mail messages under fictitious names. One claimed a company trading at $2 per share would be trading at more than $20 per share ''very soon.'' Other postings claimed a stock would be the ''next stock to gain 1,000%.'' ''Well, I'm not aware of one investor that exists that I cheated,'' said Ledbed, a junior at Cedar Grove High School. ''And I don't think the SEC is aware of one investor that exists that I cheated.'' Marino, who has declined to make the boy available for an interview with The Associated Press, did not return a message left Thursday, when 60 Minutes' released a transcript of the segment. Lebed has said he was fascinated by finance since he was 11. In eighth grade, he and two friends were among the finalists in CNBC's stock-picking contest. Lebed eventually traded in custodial accounts in his father's name at two brokers, the SEC said. On the CBS show, Marino admitted ''there was some manipulation,'' but argued there is little difference ''between what he did and what is done every single day of the week on Wall Street. That is, he touted various stocks. And he sold them, after the prices went up.'' So why are we wasting all this time, effort, and thought trying to figure out the market? And he's right. There's little difference between what he did and what is done every day on Wall Street. usatoday.com