My comments (PART 2)
I'm going to stop here after this paragraph. I read his entire response again. It is simply ripe of eye-opening admissions and contridictions of truth even from within his own post.
Patterson's original post and my posts which included a complete copy of his response need to get to Dateline today somehow. Those who have a contact point at Dateline may wish to do so. They certainly have the permission to include my posts in answer to his response. (admissions of wrongdoing).
_______________________________________________________________
He states:
"Most of the illegal activity I've seen has been when a market maker is working in concert with a promoter."
~~Promotor?? Define promotor. So you are saying in your previous paragraphs you make billions of dollars each day NAKED SHORTING STOCKS WITH HIGH DEMAND (which you say is legal), but you also work with people who are hoping to make an unwarranted windfall by fraudulently pumping up a stock price that has no business of rising??
So, we as investors are being hurt by your bad faith practices both ways (long and short)??
_______________________________________________________________
He states:
"The joke in our office is that, if another market maker calls you and begins the conversation with, "Hey, buddy", what follows will not be a legal suggestion. I have yet to see an exception to this rule."
As investors acting in good faith, there is nothing funny or no joke to the form of manipulation that we have seen at the hand of MM's. Thanks to the information age, the light of truth will bring these practices to an end.
_______________________________________________________________
I'll close with one final statement of his outside of these paragraphs:
He states:
"It is true that we will try to utilize retail traders' stop-losses to maximize our profits."
~~An unequivocal admittance to what I have long stated: - They play in the hand, deal the cards, name each bet and peek at the next card. -
MM's CREATE stop losses and selloffs by your illegal strong armed trading practices and NAKED SHORT SELLING WHICH YOU HAVE JUST ADMITTED DOING ON STOCKS WITH HIGH DEMAND!! Your artifical manipulation of the price of the stock with high demand creates the reversal and establishment of stop losses. And you admit to making bank by doing this??? Amazing.
..."maximize our profits"??????
The only thing MM's engaged in illegal trading practices deserve is maximized jail time.
Bo
