Eddy Elfenbein, individual investor and Crossing Wall Street blogger, wrote Thursday evening. “Those of us who force rationalism and sobriety on the market are engaged in a constant war, and we’re not always winning.
And we're not always winning is the important part.
You and I both know some pumper clown will say well I made so much on any given stock.
But he made it on the backs of the stuckholders. And in this case boy are people stuck.
Someone pointed out on another board that the SEC really doesn't spell it out when they halt trading in a stock.
I don't believe the SEC should use that "smoke/mirrors" language ie. for two weeks.
The SEC plays by the rules and I pointed out they explain it quite well on their home page.
The bottom line is they have 10 days to shut them down permanently.
The SEC warns people at their website that the OTC market is a fools game.
www.sec.gov/spotlight/microcap-fraud.shtml
Microcap Fraud
Check out the link. It can't be any plainer.
This was a scam plain and simple. People made money and people lost money.
Time to move on as it will happen again and again.