It's Time To Ask the SEC the Question...I pay taxes. A lot this year. Part of those taxes pays for aphabet agencies like the SEC. So it was this morning I asked them if anyone ever looks into trading irregularities like Sept 9 or if it's all just a sham and a waste of time.
I can't imagine all the little shareholders that bought this stock in the 12's or 13's and lost 20 or 30 percent.
in the 20's, the Rockefellers, specifically CEO Percy Rockefeller- did the exact same thing with the Anaconda Copper Company. They manipulated their stock prices so purposefully that they'd announce bad production numbers just so they could buy shares cheap. They'd also tell their friends when it was time to sell. At the time, the Anaconda Company was the 3rd largest market cap in the U.S. In fact many of the laws we have today regarding insider trading- came about specifically because of fat cats like Percy Rockefeller who manipulated their stock prices.
Some 90 years later- things haven't changd much. We have the SEC- which doesn't regulate or investigate much although that was supposed to be their job. We have guys like Joe O, giving guidance, lying about it, and mysterious quantities of stock selling on days like Sept 9. Some 45 days or so before the Q3 announcement.
And we still have suckers. PT Barnum said there was a sucker born every minute. Suckers who believed PVG had 16 grams per ton, suckers who believed the developmental muck memo, and suckers who believed Joe O was going to make his guidance even after missing the first 2 quarters and lying about guidance clear thru mid September.
Yes, I am one of those suckers. I've been screwed by these types more than once. And yes- it is my fault for believing them.
Go head and join me. Ask the SEC the question about who sold 4.5 million shares on Sept. 9.