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Strategies & Market Trends : Banned.......Replies to the A@P thread. -- Ignore unavailable to you. Want to Upgrade?

To: DaiTN who wrote (1729)	1/6/2005 10:28:21 PM
From: Man on the moon	Respond to of 5425

DaiTN, I don't agree with the style of your remarks that precedes your questions, but nevertheless, I have my own set of values, which I am very proud of and standby. And no there was no "color" of money to blind me. Let’s just say I was not an active participant in the “calls’, and preferred to trade my own plays. After a few hard lessons of non-allocation and lack of stop losses on shorts, including a few mornings when I would wake up and see short blood on the screen (ouch) I preferred to focus on some of the long play ideas that many other site members would chine in with. Out of al the stock chat rooms on the net, I bet this one had the best talent. I do not make any claims about the charges against Tony except that I never saw any of these supposed acts happen. Do I believe this all could have happened? Sure, why not. It is very realistic that a good ole’ boy network of law enforcement agents could get caught up in an intoxicating situation where the potential to make money is real, by lining up with a stock trader that knows the trading ropes. It could also be very real that the very intoxication itself could block the reality that it is illegal to do so, but of course that doesn’t get anybody off the hook. Somebody recently here on SI said that if 9/11 didn’t happen, this potential situation would have probably died on it’s own as the reality sets in that it’s illegal, and also importantly, not working (lol). I didn’t work “with” Elgindy but I was certainly close enough to the situation to know that the trading account that Royer managed was a laughable disaster. This is why you are not hearing about any fabulous stock winnings during this trial. You would think that if an FBI agent were truly snooping out scammy public companies that the public didn’t know about yet, and then taking short positions, and then exposing the companies through Elgindy, that it would work like magic. Well there was no magic there if that was going on. In most cases it seemed like anything Elgindy shorted turned into an “alligator”, wiping out whole accounts of members at times. Of course it was anybody who followed logical rules of allocation and persistence that would earn any decent money. Long after positions were taken and given back by most. But I doubt there were many of those. I have a feeling most members were making more money on their own trades than watching Elgindy trade. He did have good rules to trade by and he did indeed follow them. He never put his account at risk, and would sometimes only take $5k (or even less) positions in some shorts, with a trading account of over $800k. That’s not to say that when KKD looked like it was about to plunge into a week’s worth of decline, that he would throw $100,000 at it on the short side. But alas he would keep his stop loss in tight as KKD would reverse and shoot back up, ripping out the souls of shorts across the landscape. Too funny. By the way, the whole short squeeze thing is a subject that one-day will be out in the spotlight formally. The manipulation mafia comprised of the market makers, the DTC crew, and gosh knows whom else, is a pretty large animal in itself. Somebody else here said recently that Elgindy and his crew were pretty small pickings in the vast scheme of things. Well that’s very true. The story itself is what’s drawing a crowd. FBI teaming up with stock traders. Makes ya wonder what really goes on in them federal buildings at times.