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Pastimes : Can SI Members Really Manipulate Stocks? -- Ignore unavailable to you. Want to Upgrade?

To: Robert F. Newton who wrote (313)	8/3/1998 11:46:00 PM
From: Dayuhan	Respond to of 461

Can you imagine how hard it must be to be a boiler room boy when most of the people you call are on the Internet, and can check on everything you say? Not to say they still can't scam you, but it gets harder every day. Steve

To: Robert F. Newton who wrote (313)	8/4/1998
From: Patrick Slevin	Read Replies (2) \| Respond to of 461

Classic Boiler Room lines which I think I mentioned to you in the past include "Remember that stock I gave you when we spoke a few months back? Have you been watching it?....." Quotes from relatively obscure advisories like Westergaard. (They consider this "Due Diligence" for NASD purposes). Listening for an objection 3 times and working it back to the close. After the objection gets mentioned the 4th time the broker (if he's any good) moves on to the next call. Aside from just hanging up on them, a "prevent" defense may include deliberately failing to be "qualified"..or..telling him your brother or sister is a broker (use Merrill Lynch as the firm and say the office is in a populated area quite distant from your home town)....and start being careful about giving out your phone number. O'Neil's Daily Graphs (division of IBD) "sells" leads, for example. I rarely get the calls myself, but when I do I'm usually polite if I'm not rushed as I feel a little sorry for them. Usually it's a cold-caller making very little money and just starting out. So I tell him I'm a licensed trader; usually they just ask what stock I like and move on in a moment or two. I don't recommend that line however.