|
PureBytes Links
Trading Reference Links
|
Im just reflecting on the COHEN posts that I found very interesting reading.
As far as Im concerned the SEC has a real problem with regulation of these
mouthpieces. I dont know how the commission can distinguish some of these
recommendations to keep the internet bubble intact with out and out fraud.
The case the SEC tried to build against that 15 year old kid who multiple
posted stock recommendations on yahoo seemed to me to be a bigger bubble than
the market one.
Proof is in the pudding that the SEC wouldnt prosecute the kid and only took
a portion of his winnings as a settlement. I think they wouldnt have been
able to win that case. I think his defence lawyers would have had a field day
trooping out examples of Wall Street brokerage houses manipulating the market
themselves with bogus recommendations fraught with self-interest.
My experience has been that my best trades are always ones I thought out
myself after digesting opinions of professionals, stock charts and what my
own eyes see about the public's perception of the company. And what the
professionals say is only about 10 percent of the equation, if that.
Every time a broker calls me or I listen to an analyst or I make a move
based on some newsletter it seems to go the opposite way.
As for the kid: I say let the buyer beware. If you are getting up every
morning and buying penny stocks based on what you read on a friggin message
board (including this email group for that matter) then you deserve to lose
some or all of your money.
In closing is what the kid did so wrong? As an earlier email pointed out
Cohen has repeatedly trotted out buy recommendations on companies such as
CISCO saying they are table thumping screaming buys at these prices. Guess
what? A month after every one of her recommendations you can bang that table
even harder and scream even louder because the entry price was even lower.
Let the Buyers and Sellers Beware.
Rick
------------------------ Yahoo! Groups Sponsor ---------------------~-~>
Make good on the promise you made at graduation to keep
in touch. Classmates.com has over 14 million registered
high school alumni--chances are you'll find your friends!
http://us.click.yahoo.com/l3joGB/DMUCAA/4ihDAA/zf_UlB/TM
---------------------------------------------------------------------_->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|