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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It? -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (497)	6/29/2002 5:51:54 PM
From: Dave Gore	Respond to of 589

Will Criminal Activity Cause Restrictions On Daytraders? Reposted from the Gore Thread: To:The Vet who wrote (9050) From: Dave Gore Saturday, Jun 29, 2002 5:27 PM Respond to of 9051 Vet, I think your view of daytraders is a bit naive. While we do add liquidity, which is good, there are many who react to every rumor and magnify every problem. They have literally turned the market into a competition to see who can get in or out first. Nothing else matters, not fundamentals, research, great news, etc. It all can become suddenly unravelled by a wild rumor that starts a chain reaction of stampeding daytraders trying to get out ahead of the next guy. The end result? The stock targeted may take years to get back to fair valuation. That is ultimately going to cause lots more damage to the markets and market structure. I am not sure that loyal shareholders, except for Berkshire Hathaway, will exist in a year or two. Vet, take this test. Would YOU dare buy ANY stock right now and go to work like 99.x% of all Americans and feel safe not watching the ticker? If yes, would you have bought and felt safe holding any stock or Mutual Fund bought in late Jan. 2002? Jan. 2001? At any time a nightmare event can happen, either real or manufactured and you could be down 10-90% in one day! While the real event is a valid risk parameter, the manufactured ones by cheaters and manipulators of wild rumors is just too much. It's got to stop. If you wouldn't "Buy and Hold" a stock before you go to work, then maybe many of the 99.x% of all Americans will decide they won't either. Then what happens to volume, liquidity, and the whole health of the Markets? The BROKErs and mutual fund MANGLers won't have much to buy or sell, that's for sure, and we may even see companies going private like crazy. Again, if we help eliminate the cheaters and criminals, we daytraders will be allowed to operate as now. But if we [inadvertently] continue to help the criminals financially wreak havoc while they get richer, I'm not sure there won't be regulations imposed upon us. The 99% out there has about had it.