Replies to post #16452 on Fernhill Corporation (FERN)

[mansonlamps]

I was in a stock years back and we suspected wash trades, friend of mine arbitrated through FINRA and received the trading ledgers from the offending MM, that ledger said they were asked by another MM to conduct massive wash trades at a lower pps ( it was rising at the time).

Many were accusing us of being nutters, until we received the trading ledgers with one MM fingering the other. FINRA eventually fined them around 39k and one mm was barred from making a market on that stock for 12 months.

99% of shareholders at the time of the wash trades, assumed it was an insider dumping off, it was not. The MM shorted huge blocks to themselves and covered same day, no NS, but this created massive volume, killed the run and served those who were holing a NS .

I am NOT saying this is the case today, but I read the ledgers and have proof this goes on and no one gets really gets punished but the shareholders who fall for this nonsense.

Everyone needs to make their own decisions and pay their bills, just a word to the wise, maybe do not panic/sell, as all may not be as it seems.
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[ol_crow]

Either way I grabbed 0014s. Too cheap not to