To Whom It May Concern,
I have been a Market Maker and a Trader for 21 years in NY and in London for reputable firms. I have traded IOC(interoil ) on and off for past 2 years without any prejudice either way.
Now , we do have coverage in the stock and we are long(again full disclosure) , and i agree in a free market and opnions, but, im my opinion there is something more to the articles that Mr Adam Gerfervt has been writing on seeking alpha.
I will be reporting what i think is stock manupulation to SEC , as everytime the day before his article comes out, stock is traded in the same way which i have made a detail report to SEC and NASD.
I beleive in free speech and also op-ed pieces , but these articles by Adam have gone below the belt , unprofessional and with an agenda.
I would give him more credence if there were others writers and market professionals who would express his views, but its only him which makes me beleive there is a hidden aganda.
Again he can make his piont , stock may sell off may go higher who knows? But to call out the company exeutives as "crooked" is at best unprofessional and at worst Libel.
Agree - IOC is simply the most manipulated stock on the entire NYSE. First of all over 80% of the trades ARE NOT ON THE NYSE. They are hidden in dark pools and the manipulation is palatable. The bid and ask spreads are larger than any NYSE I have ever owned. BY FAR. When I hit an ask of 800 shares sometimes they give me 50 and pull the rest - something that should never happen with a NYSE stock. When they are buying in dark pools they show 100 shares but you can hit it 50 times and it keeps being replaced.
Then can send this NYSE stock down $2 on little volume. Agree the stock often reacts BEFORE Adam's stories hit. The premiums in the puts and calls allow them to cash in on the manipulation - which is often coordinated with IOC stories in BS PNG blogs or on SA with a failed poker player with no energy background who has been wrong so much about IOC yet still is allowed to call mgt "crooked" and get his ridiculously negative headlines published on yahoo finance to scare.How you can he call IOC management "crooked" and be allowed to be published is a head scratcher, especially since he has been telling people to short IOC since Nov 2011 when the stock was in the 30's and then ran to the 90s. Who is crooked are the hedge funds that short IOC and manipulate the trading by hiding over 80% of the volume of this NYSE company in dark pools, and then get articles in the PNG press, hire known felons like Barry Minkow to publish questionable articles (Minkow is back in jail after being hired by a famous IOC short hedge fund). As an ex poker player with NO energy or finance background - it really is amazing how many articles this nothing gets published. or his hedgie friends. Soon he will be shut up on IOC forever
Adam looks like a perfect candidate to join Berry Minkow in a jail cell soon..Hope a big Bubba can ease his anguish for all of us longs that ignore his every rant with just wanting to help us..
Make sure you tell then about Upstream and PNG Industry News articles as well. And don't forget the stream of SA puffball articles promising an imminent deal or takeover next week for the past 18 months.
Even if you submitted this it's rubbish like this that clogs up the SEC and takes away from their real work.
Maybe they should find the guy leaking material non-public info (if true) or making false statements (if not true).
Thinking that the market is trading ahead of Adam G articles is pretty ludicrous.
That is all.
Agreed Bonk. We don't agree on IOC, but agree on the above. These guys give way too much credit to someone who is a poor writer at best. It doesn't take much to get an article published in Seeking Alpha. I am a subscriber and get 100's of emails a day with random articles by random people who claim they have an edge in these markets. Although entertaining and sometimes interesting, SA is just opinion pieces and they have replaced PEOPLE magazine for some good bathroom reading (along with the Gartman Letter).
Bonk, do you think is articles are well written and are based in fact? Do you believe he is working for a short hedge fund, paid to plant these articles?. Do you believe he has put himself in legal jeopardy with his comments about the company's being "crooked"? You impress me as someone who is pretty smart, I woud appreciate a brief honest answer. .
Good luck longs
Sentiment: Strong Buy
Our long view to the stock is in the public domain backed up by facts . We do appreciate opposing opinions and that’s what makes the stock market , but where it does cross the line is when you call the Executives “crooked”.
I firmly believe ,right or wrong, or which way the stock goes, that kind of language is quite dangerous.
Also the trading patterns before Mr Gevfert releases his articles have been flagged up.
I believe at best , even though it is an opinion piece , Seeking Alpha has a responsibility to ALL investors that slanderous language in his articles need to be curtailed
I agree 100%. I am stunned that he is part of a group of short players (2 very big) who use people like him to manipulate a short position. What is even more stunning, is that his articles are published, and the short players know the article is coming, so they front sell and continue to sell, giving the appearance that the article is having a market effect. However, it is a concerted effort by him and the shorts involved. Sources say others (short players of the group) are feeding him the info for his articles. This guy should be put in jail.