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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit -- Ignore unavailable to you. Want to Upgrade?

To: TheStockStalker who wrote (1286)	6/25/2003 6:27:53 PM
From: CountofMoneyCristo	Respond to of 3143

I'll answer. First of all, there is no ego involved in this case. I know my limitations. That does not mean I cannot effectively argue my case before the Courts. The writ petitions, the Court of Appeal requesting opposition briefs of defense counsel is one demonstration thereof. That does not mean I think I am an attorney. I surely do not. However, my case is strong such that even a relatively inexperienced attorney could win it. That is my belief. My posting here has a reason. I am not making statements lightly. The defendants thought so back in 2001, but I do believe now they have learned the lesson of that miscalculation. For example, they gave away their entire defense strategy in 2001. So you can see. Second, I did not trade any stock from the day I started working as an analyst on March 17, 2000 to the present. I know many others were trading at the same time they issued recommendations; I did not - at any time. Now why would anyone trust my advice when I lost? That's an excellent question the brokers will have to answer at one point, since their lackey Rea hired me to give advice to 500 TP clients and they made a lot of money trading my advice - as did traders at Stock Operators, which I would like to point out never made any arrangements with brokers, in fact strictly forbade them. So it goes to show that absent the kickback agreements trading would have been profitable for good traders. But with them, the advice was shorn of any freedom from bias or taint, it was totally corrupted. I think many former traders also would vouch for the fact that an honestly run room with colleagues trading under an analyst of integrity would have been extremely helpful. That's why traders went to sites. But the sites lied to them and so did their brokers. I launched "STOPS" because I wanted to do two things: one, show that an honestly run site could help traders; two, prove to others the difference, and how exactly they were defrauded before by the other sites. Unfortunately, decimalization smothered trading volatility in the spring of 2001, and also employees of the brokers and other sites deliberately sabotaged STOPS operations. Charging $2,500/month if I recall correctly is the highest fee ever charged in the industry. I did it to weed out the brokers fomenting problems there, because I knew they would never pay me that to sabotage the site; and also in order to ensure a smaller group of committed traders. I know many sites used their numbers as leverage starting runs for instance; I wanted to prove that this leverage was not necessary, that there were good trades out there simply based on news events. And I think I did prove that then. The reason anyone agreed to pay me that amount, about 10 traders, is because from August through mid-December the site was free of any fee. I proved my worth to those traders. Then they agreed to pay me fees. Not the other way around. Finally, I shut down the site because I saw trading could no longer be profitable. Many clients implored me to continue; I stated I could not in good conscience, which decision cost me a six-figure annual salary. I certainly am not reticent about proclaiming the charges against the defendants. And that is because that I have not done what they did, though I was several times in a position where I could have done so, "played ball," hurt my clients as they did and cashed in as just about everyone else did. For that reason, I believe I have earned the right to speak as I do. Incidentally, I will not be the lead plaintiff in a class action, which may or may not be filed in the near future. I would however assist. I have my own claims, including those I have filed under certain California codes on behalf of the General Public. Hope that answers your question. Olivier