OTCPK:MAGNF - Post by User
Comment by
bulkbeefon Mar 19, 2013 2:42pm
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Post# 21151357
RE: RE: COFFIN IN THE NEWS AGAIN
RE: RE: COFFIN IN THE NEWS AGAIN During the hearing Mr. De Gouveia attempted to portray himself as an amateur trader and "naive bumbler," but a three-member ASC panel found that he was "simply too good at what he did for that to make sense." The evidence showed that of his trades, 72 per cent were upticks and many were executed at the high price for the day. Moreover, his trading made no economic sense, and he in fact lost money.
The ASC also said that Mr. De Gouveia actively commented on Magellan on Stockhouse during the trading. Using the alias "coffintrader," he drew a substantial following as he wrote at least one formal-looking article on the company and authored many posts. In reality, he knew little about mining, the panel found.