crackedtooth schreef:
** please read ** a retail owner was fed up with the downpaints on Insmed shareprice and called FINRA
The poster in questions complained about the market maker
" for manipulation. That close yesterday at .71 with 100 shares when the bid x ask was .73 x .735 was the last straw.
Just like last Friday when they painted the tape lower from .75 to .715 with 100 shares.
I spoke to the enforecement officer. She is URGING EVERYONE TO SEND HER A LETTER. The more complaints the faster we get these crooks removed as market makers.
This was the 8th time in the last 22 sessions that they closed the stock LOWER than where the bid vs ask was.
PLEASE WRITE TODAY - PROTECT YOUR INVESTMENT
"
Email to:
pat.clem@finra.org Personally i dont mind people getting fed up with downpaints, do hope the rodent patrol on yahoo is mentioned as well if/when people email to finra.
I too sent and email and included my disgust about the disinformation campaign on the yahoo board.
"
Dear Pat Clem,
I saw a posting by another retail owner about how he complained about the end of day down painting of the closing prices in the nasdaq traded stock INSM ( Insmed ).
He asked if others had the same experience.
I am an investor and have been invested in Insmed in varying positions for over three years.
What struck me that with Insmed we see a combination of things:
- A very consistent smear and defame campaign on the yahoo retail board.
This is so consistent that this is unlikely to be retail owner or retail shorting related.
I have complained about this coherent effort to the sec on multiple occasions, but nothing has been done there.
The bash and trash goes beyond freedom of speech and methods used are also by using deceptive topics and statements known to be false as defaming rumors in postings. All way beyond the intention of free speech.
Both on those and past complaints in 2008 on painted closings , none of those resulted in any communication in relation to those complaints.
-Combined with this bashing, I also witnesses countless closing pricing that undercut Insmed closing price by 2-3 cents whilst there was a strong bid in place 2 or three cents higher.
These same antics have happened before as well, but i shall limit myself to recent weeks.
I think that in the past weeks, leading up to the russel index reshuffle and in the days after that we have seen numerious of such downpaints in this stock.
Not coincidentally 5mln shorts were covered on the russel index reshuffle when a lot of index funds had to sell on june 30th.
Past month I think surely 7-9 times of downpainted closes have occured.
And as stated this is not the first time it has happened.
It has appalled me that both a coherent smear, defame and deter campaign can be waged in a vile manor on a public message boards.
(i might add that dozens of complaints on the yahoo board has also not led to action by yahoo on it, complaints on false and misleading statements with the sec have not lead to any action there either)
Combined with the painted closes this makes me label the antics shown as nothing less but securities fraud in an attempt to defraud common shareholders of normal market value. The downpaints leading up to the russel index sales was one example of that.
Condoned by whatever market maker who allows for the downpaints as well.
Sincerely hope some action can be taken , although i am quite disappointed so far in how rules seem not to apply.
With regards,
"