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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: IntoOLEDs who wrote (65655)

12/9/2020 1:57:33 PM

From: E_K_S

Read Replies (1) | Respond to of 78776

Richard Ney

BornDied

Richard Maximilian Ney

November 12, 1916

New York City, New York, U.S.
July 18, 2004 (aged 87)

Ney wrote three highly critical books about Wall Street, asserting that the market was manipulated by market makers to the detriment of the average investor. The first of these, The Wall Street Jungle, was a New York Times bestseller in 1970. The second and third were The Wall Street Gang and Making It in the Market.

Ney was credited with saying, "Hidden behind the façade of pompous jargon and noble affections, there is more sheer larceny per square foot on the floor of the New York Stock Exchange than any place else in the world." [7]

Wow, that goes way back but I do remember the 'Ney' Report and that was before all this automated trading.

Wonder if those new AI programs use the logic behind Ney's trading premise. It is/was always the MM manipulating the price.

To: IntoOLEDs who wrote (65655)	12/9/2020 2:01:03 PM
From: Elroy	4 Recommendations Recommended By Lance Bredvold S. maltophilia sjemmeri The_Commodore Read Replies (1) \| Respond to of 78776

The gap down appears to have been a manipulative dip for market makers to pick up an inventory of shares on the cheap "A manipulative dip"......seriously? We've all seen wild swings in the days after big announcements. My hunch is they are caused by the "less smart" money interpreting the big news differently from the smarter money. There is no "manipulation" by some secret conspiracist cabal controlled by market makers, George Soros and Satan. There are sellers, who sold, pushed the price lower, and then buyers who disagree with the seller's opinion of the news, and buy and push the share price higher. No one was manipulated to do anything.