bag, The case is nonsense.
The single most pertinent fact regarding the pump and dump as a board based strategy is the total lack of effect that occurs during incredibly long periods in the stock pps, even though the pumpers are in full force during the entire time.
Posters have zero effect on the stock pps.
Another piece of evidence is the total lack of syncronicity between pumping and volume that occurs during a run.
The run always starts before anyone is aware of it. It takes all of the players by surprise, especially the pumpers. They flood the board with questions. What's going on? Has anybody heard any news? Must be something happening, do you think?
All of the traders, whether momentum traders or shorters appear AFTER the run has established itself and the volume has tripped their alert thresholds.
Make a case that covers those facts....or you have to abandon your theory I'm afraid. lol