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Re: marcos post# 928

Saturday, 04/28/2001 2:14:24 PM

Saturday, April 28, 2001 2:14:24 PM

Post# of 222330
I find it quite ironic but I do believe that vast majority of SI'ers overestimate the positive impact of any hypsters Internet writings. I firmly believe that the actions of a few lay e-traders shorting worthless penny stocks while bashing the threads has done more to inflate the prices and liquidity of these stocks than any hypsters could have ever done.

Brokers need 7 pages of paperwork from a client stating that they are a complete moron and expect to lose every penny they invest before they can buy a client a BB stock. All professionals on Wall Street ignore penny stocks yet the SI Dick Tracy and their ban of merry unemployed E-traders is talented enough to tackle this unscrupulous market by engaging in a trading activity of shorting the stocks, then crying foul. Doesn't any one see the inherent ethical problem with this investing strategy? It stems from the fact the penny stock shorter never cares if the stock fades and falls to zero after he shorts it, however, if the stock rises sharply, the shorter will mount a campaign of calling the SEC, NASD and newspapers. Is this not the very essence of market manipulation? This can only be compared to buying illegal drugs then calling the cops after your dealer rips you off.

First rule I learned about shorting was to never stock penny stocks, second rule was not to tell people what I was short. It truly is a strange world full of gullible people who think they are intelligent.

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