RE: RE: RE: RE: More Manipulator FootprintsTMM9, you have followed ONC for a long time. Welcome back to posting. I just wonder how fresh the cow pasture is that you are currently wading through. I am not aware of any management missteps that that justify the stock price decline that occurred in 2006. Can you be more specific in your accusation?
You may also want to explain the following coincidence. I just finish plucking CravenRaven’s feathers as rozelli so nicely expressed it and you start posting again. Your last post was Sept 24th when you were having problems accessing the Yahoo Board. You received a reply saying that there were no problems accessing the Yahoo Board. It is a big gap until your next post. It is dated 24 Sept 2006. It was a positive post “On Financings and partnerships” saying that ONC’s stock price would get a boost from a hostile takeover bid. Your 24 Sept 2006 post was your 619th post since you became a member on 18 April 2000. Your Yahoo post appears to be checking if your old ident still worked.
My favoured explanation is that you are a member of an investment club. For the past year I have been exchanging posts with the Club. My guess is the Club is located in Calgary. The Club noticed, as I did, the reported increase in the holdings of the Mellon Bank on the NASDAQ website. Mellon Bank reported holding 10% of the outstanding shares as of 17 Feb 2006 and the closing stock price of ONC was $5.07. On 13 Oct 2006, Mellon reported holding 2.9 million shares, 20% of the outstanding shares. While accumulating 1.45 million shares and acquiring 10% of Oncolytics, the stock price fell to $2.78. I am not accusing Mellon Bank of stock manipulation. I credit them with shrewd patient buying for one of their clients. The best guess for the client being a Big Pharma who did not want to hold and report this position in their name.
It is ridiculous to suspect the Bank of New York Mellon of being involved in a petty fraud. As the Globe reported this week regarding RBC’s downgrade by Moody’s, the Bank of New York Mellon is one of the five world banks to still retain Moody’s top rating. It is hard to believe that a CFA who is an institutional investor has the time and desire to perpetuate a fraud since 2006. It is not ridiculous to imagine a Club member seeing the opportunity of buying ONC on the cheap. The trick is to keep the stock price down. Step 1 is to get negative on Brad and management. It will require Club members establishing new monikers for posting because they can not change from pumpers to downers overnight. Step 2 is to recognize the importance of keeping ONC’s stock price below $3.00. The members of the Club can use the margin on other investments to buy ONC on the cheap. Step 3 is crossing the line and introducing deceit into the manipulation. Online investing effectively eliminates concerns over transaction costs and, more important, eliminates any oversight that a brokerage firm would place on a full service account. When the market starts to move and get hot sell into the market. When I started seeing sales of 50,000 shares on Fridays at 3:55 PM, I suspected that the stock was being manipulated. My suspicions were confirmed when I saw large sell transactions spiking the stock during 2009 following positive press releases from Oncolytics. Stumbling onto Stockhouse allowed me to connect the dots and fight back to protect my investment. I hope you all go to jail but there is no Santa Claus.