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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (61087)	10/22/2000 10:54:02 AM
From: Prognosticator	Read Replies (1) \| Respond to of 122087

Rushing in where the wise fear to tread here goes... It's hard for me to have sympathy for those who sold based on the fake EMLX news and were then unable to buy back. IMO day trade gamblers deserve to get creamed by the market for their gambling, and stop-loss paranoids should simply know better. It is my impression that the stock market was created to allow companies to raise capital, so that they can invest that capital and make more of it. It was not created for gambling. It was not created to make insiders rich beyond their wildest dreams. Note that I consider short selling to be an important checks-and-balances form of investment, not a form of gambling. Short sellers have unlimited downside risk, unlike longs and option buyers, and I respect anyone who can make money doing it. OK. Fire away! P.

To: Mama Bear who wrote (61087)	10/22/2000 2:33:04 PM
From: KevinMark	Read Replies (2) \| Respond to of 122087

>>>. I was (still am) in favor of cancelling every EMLX trade that occurred that day subsequent to the fraudulent PR and previous to the halt.<<< Your proving my point exactly. The NASD DIDN'T cancel any of the trades, because they could give a rats arse about the small investor. They're out for themselves, which are the institutions. >>>Are you trying to say that Nasdaq put that fellow up to releasing the fraudulent PR<<< Don't be ridiculous. >>>If not, then what did that incident have to do with the Nasdaq<<< The NASD should have never halted the stock. The open market should determine the fate of the fake PR. Take a look at QLGC, it dropped 34 points in conjunction to the fake PR, before recovering 30 points soon after. The open market provided equilibrium, not the institutions. >>>I'd expect the same argument went on at Nasdaq HQ while the halt was in force<<< Yeau, the argument for the institutions to be able to keep the shares they picked up @ $45-50, only to let resell them @ 130! Do you honestly believe the institutions didn't pull out all the stops to keep that 2.5 billion in lost equity? >>>But I can't see an argument that allowing it to trade under the current rules was corrupt in any way. As far as the gap up after the halt, that was completely natural. <<< Don't you get it? That's where the corruption took place. The NASD protected their boys. The NASD never provided quotes before the stock even traded, which their required to do 5 min before the stock opens. And the gap up? You consider a 150% gap up, NATURAL? Come on now. There were 10.8 million shares traded that day, only 1.5 million after they reopened it. Explain to me where the other 9 million shares sold went? Investors lost 2.5 BILLION that day. On the flip side, institutions gained 2.5 billion. Investors lost big, while the institutions laughed all the way to the bank, all provided by the NASD. >>>That's what happens when people learn that fraudulent bad news is fraudulent<<< Really? Stocks get halted, then reopen 150% higher? Wrong! The open market will disseminate the news accordingly. In addition, it's fully capable of determining what is false and not false by supply and demand. The NASD should not act as Judge, Jury, and Executioner, which clearly in this case they did. Please provide one example where this has EVER occurred before. Plan on spending a long time to find that information. Don't forget this fraudulent news came from a reputable news firm in Bloomberg! The NASD allowed their boys to steal $2.5 billion from investors that day, with no remorse. If that's not corruption, I don't know what is. KM