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there is also a distinction of non-insiders trading on inside
information.
however the rules are that trading with knowledge of materially
affecting information which has not been dissimated is illegal.
for example a executive might see softening in sales and been selling
insider stock legally as long as he register it under rule144, however
if the company will be issuing a major news announcement such as an
earnings shortfall and he sells or discloses to other persons that
a material news is coming then all parties are covered under the insider
rules. in essence is illegal to run ahead of the order.
i wouldn't bet any money against the sec on it-i'm sure they are looking
at every trade that took place not just yesterday but a few days back
also. Nasdaq and the NYSE also
run "stockwatch" depts constantly looking for suspicious activities. I
don't know what they do in chicago, but i would assume that they
have their own watchdog unit.
tv
editorial@xxxxxxxxxxxxx wrote:
>
> Bill,
>
> That's a good question...
>
> I think that the key point to remember is that insiders (officers, directors,...) are not restricted in their trading. They simply must report their transactions. In fact, there's a whole school of market analysis, as you know, which focuses on making the same trades the insiders do...
>
> All the best,
>
> OM
>
> ---- you wrote:
> > List:
> >
> > I'm curious what the laws are concerning insider trading and stock indexes.
> > I was watching the NASDAQ futures tick for tick yesterday around 3:50PM
> > Eastern and it was clear that some "big dog" was doing some heavy selling
> > there and into the close. Given the INTC announcement after the close it
> > makes me wonder: are INTC, and other insiders, restricted in any way from
> > trading the NASDAQ futures? It seems the major components of the indices
> > could use the futures as a surrogate for insider trading.
> >
> > No sour grapes here, I've been a bear, but I'm curious.
> >
> >
> > Bill Wynne
> >
> > Bill@xxxxxxxxxxxxxxx
> >
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