88 Energy Ltd (EEENF)

[op9171787]

SEC market maker ethics and rules were not followed, as if "any market" the mm's want to make is ok. It isn't. it is illegal to engage in wire fraud.

market makers are supposed to facilitate the marketplace's actions and reactions of buying & selling, not LEAD the moves.

I would bet we had hedge funds and market makers needing billions of eeenf shares cheap. They needed to stop EEENF dead in its tracks. EEENF had been trending upwards for weeks, had hit .094 i believe and pulled back some to .084, and then...

the PR that 88 Energy put out was not bad at all, just a glitch in operations, a delay. But that april 5 PR did not warrant the wiping out of weeks of slow climbing to .09 and billions and billions of shares traded.

i believe that the market makers needed to take this down immediately to foment the selling of many shares, as hundreds of millions of dollars would have been lost had eeenf continued to climb towards .25 and .50 cents.

the fact is is that most did not panic sell that day but the stock was pariah'd and many people left given the volatility that they intentionally created.