Replies to post #7424 on SEC Charges Eleven in Stock Manipulation Ring

[greedy__malone]

Phil, bottom line here is this.

They broke the law.

There were postings on IHUB that coincided with PM's between Matt and the others. Have you read the posts from 12/07/06 on the GH3 board? Amazing how the board was dead as dead can be until it was so suddenly taken over on the 7th of December.

And everything in the indictment played out right here on IHUB.

I don't care if Matt posted or not he was fully aware what was going on and did nothing to stop it. He actually took part in it and profited from it whihc is a great injustice to any and all IHUB members regardless how many of them lost money.

There is no defennse for fraud. no defense at all. They all deserve whatever they get and I certainly hope there are no sympathetic jurors, prosecuters or judges in this matter.

[mimurray]

Very valid points Phil. It's not like anything about message boards has changed recently. And in regard to penny and pinky stocks, nothing has changed there either.

I've played these stocks going back to the mid 90's. The school of hard knocks taught me all I needed to know about trading OTC stocks. The keyword there being "trading". They aren't like blue chip stocks where you can just invest in a basket of securities and then just sit back and watch them hopefully appreciate over time. They are HIGHLY volatile stocks and need to be treated as such.

Once in a while I'll see something I think might have a chance and decide to take a longer position, but on 99% of them I just play the momo moves and that's it.

In a perfect world it would be great if people could count on everything they read on a message board to be accurate, but that just isn't the case. They are only one small part of doing DD on a stock, and IMO the smallest part. You have to go way beyond message boards to gather good information about a given stock but unfortunately too many people take what they see being written as Gospel and then act on it. That's an instant recipe for disaster.

Nobody has ever held a gun to my head and forced me to buy one of these stocks. If I gamble and lose, it's nobody's fault but my own.

I appreciate your objective look on everything that's been going on lately. It's refreshing to see a point of view that's willing to let the system run it's course and not allow the court of public opinion be the method that determines a person's fate.