Quasi: I'm not interested in a contest...those who know me on RB have followed my instincts to some nice profits this year...& I'm the 1st one to admit that I don't have a 100% success rate lol.
If you know someone who does...feel free to steer me in their direction lol.
My posts these past couple of days here were simply to prove that I wasn't the bad guy some posters tried hard to make me out to be 3 weeks ago for pointing out the red flags I saw here.
I don't pay for an ihub membership & the majority of my time when I do post is spent on RB under the monicker: mr_momo_2u
If you're really concerned with verifying my track record feel free to knock yourself out...my highest gaining recent calls over there were:
BANY from .0017
LFZA from .105
AWYB from .05
Here's some interesting reading that I'm sure most of you will enjoy...have a great night all:
SEC Charges Hedge Fund Executive With Naked Short-Selling
14:26 EST Tuesday, December 12, 2006
WASHINGTON -(Dow Jones)- Federal regulators sued a Dallas-based hedge-fund manager Tuesday, alleging he pulled in more than $6.5 million of gains through illegal trading involving "naked" short sales of dozens of companies.
Edwin Buchanan Lyon IV, the managing partner and chief investment officer of Gryphon Partners LP, was charged by the Securities and Exchange Commission on Tuesday, along with Gryphon and six other related firms based in Texas and Bermuda.
According to the SEC's complaint, filed in federal district court in Manhattan, from 2001 to 2004, Gryphon would engage in "naked" short sales, typically through Canada, after agreeing to invest in PIPE deals, which are private investments in public equity.
The SEC also charged Gryphon with trading on inside information on at least four PIPE deals, involving Celsion Corp. (CLN), Gentner Communications Corp., Manufacturers Service Limited and PhotoMedex Inc. (PHMD), by selling their shares short ahead of public announcement of the stock offerings.
Short selling, which involves sales of borrowed shares in hopes of replacing them later at a lower price, is legal. So-called "naked" short selling occurs when the short seller doesn't borrow shares before selling them, a practice that was legal in Canada at the time.
The SEC claimed Lyon and Gryphon engaged in deceptive sales involving at least 35 companies that sought PIPE financing, after telling those firms that the hedge fund wouldn't sell or transfer the shares it acquired through the PIPE deals. The companies included Guilford Pharmaceuticals Inc., IntelliData Technologies Inc. and Heartland Oil & Gas Corp. (HOGC).
The SEC is seeking to have Lyon and Gryphon return their allegedly ill-gotten gains, with interest, and pay civil penalties.
Ralph Ferrara, a Washington, D.C., attorney who represents the defendants, was traveling and couldn't be reached immediately for comment.
- By Judith Burns, Dow Jones Newswires, 202-862-6692; Judith.Burns@ dowjones.com
(END) Dow Jones Newswires
12-12-06 1425ET
Copyright (c) 2006 Dow Jones & Company, Inc.
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"Never buy or sell based on anything I post - my posts are just my opinion"
"I like ridin' lightnin' - rely on no-ones due but your own"
